View more on these topics

Sofa director Butler in call for merger with IFP

Newly elected Sofa director Jason Butler is calling for Sofa and the Institute of Financial Planning to merge after less than two weeks in the job.

Butler, voted on to the Sofa board at the end of November, is also editor of the IFP&#39s journal and director of London IFA Bloomsbury Financial Planning, where IFP president Campbell Edgar is a fellow director and technical manager Robert Lockie also sits on the IFP board.

Butler says each body has its own strengths, with Sofa seen as the more technical body with a strong secretariat while the IFP focuses on the more practical issues and has a good network of branches.

As a first step in the process, Butler suggests holding joint conferences and education days and joint media relations.

He says: “If companies are merging, why aren&#39t professional bodies? Before we go for the full marriage, let us have a few dates. The CII will hold this back. Insurers are only one part of the future of financial advice and as long as we are dominated by the insurers, this will not happen.”

Edgar says: “We are happy to talk and think joint enterprises are a good idea. Lots of people are members of both. We will have lots of dates but whether we get married is another matter.”

Sofa chairman Nick Bamford says: “In terms of whether bodies merge to provide best service, then that may happen at some point in the future. It is important to discuss anything which imp-roves standards in financial services.”

Recommended

Half of advisers think buy-to-let saturated in South-east

Specialist lender Future Mortgages&#39 quarterly survey of 500 intermediaries reveals 51 per cent of respondents believe the buy-to-let market in London and the south east is precarious, 33 per cent think it is stable and 17 per cent say they are unsure about its future. And of those who took part in the survey 54 […]

Tenet scheme offers fees payback of up to 80%

IFA group Tenet is setting up a reward programme offering its members the chance of getting up to 80 per cent of their fees back within three years.The scheme will allocate shares to its network and subsidiary members ahead of its planned sale or flotation within the next two to three years.Around 10 per cent […]

Axa PPP Healthcare unleashes cashback plan

Axa PPP Healthcare HSA brought out a healthcare cash plan called cashback, which has three levels of cover and a range of 23 benefits. Cover is available on a single or joint basis and full cover for children is provided free. Premiums are payable on a weekly, monthly or annual basis. Under the plan, policyholders […]

Royal London jobs go in multi-tied switch

Royal London Group is to cut 690 jobs, including 200 at its Scottish Life subsidiary, following a fundamental review of its business, which will see its direct salesforce culled to make way for a second-tier multi-tied force.Removing duplication in areas such as IT, human resources and admin will see Scottish Life lose almost one-fifth of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com