Tenet: Set aside differences and back a trade body

Tenet says IFAs need to put aside some of their differences and show support for a single trade body if they are to have a united voice and lobby effectively.

At the Tenet conference in Windsor last week, distribution and development director Keith Richards said IFAs’ criticism of Aifa has stalled the trade body’s progress in lobbying over regulation.

He said: “The industry needs to put aside some of its differences and get behind a single body to lobby effectively with a single voice. When you look at the critics of Aifa, most of them are advisers so all the good work it does in getting in touch with Government and the FSA is unwound by its own membership.”

Although Richards has been touted as a potential successor for the director general position at Aifa following Stephen Gay’s resignation this month, he has ruled himself out of the running for the role.

He says: “I have long been an advocate and supporter of Aifa but the role of director general is not one I would be interested in applying for.

“The general membership will need to place its trust in the council regarding selection of a successor as we need to move forward.”

Jacksons Financial Services managing director Pete Matthew says: “Yes, advisers criticise Aifa but that is fully justified because they are paying members. It is an organisation that has been toothless for so long that advisers have grown tired of it.”