Chris Cummings' decision to step down as AIFA director general two years before the RDR deadline creates further uncertainty for an industry desperate for stability.
Cummings' departure has taken the industry by complete surprise. Even Amanda Davidson, who worked with Cummings for years until this April as deputy chair of AIFA, answered the call to comment on his exit with utter disbelief. He will leave in August to front TheCityUKA, a new independent body to "promote the UK financial and related professional services industry". Much of the industry's shock at his departure will stem from Cummings' decision to go before the job of transitioning IFAs to meet RDR standards is finished. Cummings deserves praise for fighting pitched battles with...
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