The Institute of Financial Planning (IFP) had been facing a 'continual battle' between maintaining reserves and investing in swelling its ranks prior to its takeover by the Chartered Securities and Investment Institute (CISI), the body's new president has said.
Asked at the IFP conference how the body got to the point where it lacked the money to invest in its own development - as revealed in the fallout of the takeover announcement - Alan Dick said growing reserves "which are there in the accounts" verus investing the money was a "continual battle". The IFP recorded a surplus of more than £40,000 last year, and its former CEO Steve Gazzard has declared the body is in the best financial position in its history. But Gazzard - who has stepped down to be replaced at the head of the merged body by CISI chief executive Simon Culhane - said its at...
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