The IFA Defence Union has restructured with a seven-man executive committee aimed at portraying a more professional outlook and better representing and defending the rights of IFAs and retired advisers.
The restructure was voted for and confirmed at a steering group meeting of the IFADU board at the Hotel Russell in London.
Evan Owen will chair the board with Derek Bull treasurer and Paolo Standerwick secretary. Rod Leonard will be vice-chair while Derek Gair, Steve Farrell and Alan Lakey will head the various sub-committees.
One of the sub-committees will focus on seeking compensation for advisers who have paid out compensation on Standard Life policies where incorrect surrender values were used to calculate redress.
The board agreed financing of the defence union, which has been an informal regime of paying what you can afford, will now come from a monthly subscription.
IFADU chair Evan Owen says: “This restructure confirms the organisation’s primary aim to represent and defend the rights of IFAs and retired advisers, to natural and legal justice. We are now assured of the direction, skill sets and dedication of those performing the tasks within the IFADU and our work will aim to correct the unfair way that we believe advisers have been treated by various regulatory bodies.”