Stephen Gay, director general of the Association of Independent Financial Advisers (AIFA), has said poor performance is all IFAs deserve from their trade body unless they start funding it properly.
He told delegates at the PIMS conference last week IFAs' contributions to AIFA fail to even pay the wages of its 13 staff. AIFA is left "standing outside the regulatory process shouting at it" by a lack of resources, he said. IFAs currently have no voice in the EU financial regulation consultation process and the UK system risks becoming "collateral damage" in overseas changes unless AIFA gets a cash injection, he warned. "If the IFA community is serious about representing itself on [regulator's] panels it needs to step up. "If you send your trade body barefoot to the races and ...
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