The future of IFA Promotion hangs in the balance, with integration with
Aifa being touted as an option, following its proposal to link up with a
Insiders say several sponsors, including Standard Life, Scottish Widows
and Scottish Amicable, are unhappy over how the plan was put to the IFAP
board. If the proposals are rejected, there could be a move to integrate
IFAP with Aifa, a plan understood to be favoured by some directors.
Last week, Money Marketing revealed IFAP managing director Ann-Marie
Martyn has been offered a role in an internet start-up company. The firm,
IFA Search, aims to provide 10,500 IFA firms with free websites linked to
an internet directory.
Martyn wants to link IFAP with the service. But she has a battle to
convince the board. If the proposals are accepted, IFAP will remain intact
and support IFAs off line while directing consumers visiting its website to
IFAs on the IFA Search directory.
If they are rejected, Martyn is expected to quit, leaving the way open for
a radical reappraisal of IFAP. A board meeting is scheduled for early May.
Aifa director general Paul Smee says: “We need to work out what is best
for IFAs. We are willing to play a part in the discussions.”
Martyn says: “IFAP chairman Douglas Claisse called a board meeting two
weeks ago but I cannot discuss details.”