The Association of Independent Financial Advisers (AIFA) has today announced that its sister body, the Association of Mortgage Intermediaries (AMI), is to become a separate, independent organisation to ensure they can maintain the focussed representation of the mortgage community.
Robert Sinclair will be leaving to head up the new organisation.
The Rt Hon. John Gummer, Lord Deben, Chairman of AIFA & AMI, said:
"AMI has grown significantly over the past five years, but it has also grown up. It is now a position to stand on its own two feet and be financially autonomous. The AIFA Council and AMI Board feel now is the right time for it to set out in its own direction.
"AIFA is in a strong position following the changes we have made to the way the organisation is run. Led by the hard work and commitment of the AIFA Council and the Executive team, we remain in a position to deliver the single, strong and united voice for the advice profession. We will continue to negotiate the remaining outstanding aspects of the RDR, the new regulator, and deal with incoming European regulation.
"The changes will allow AIFA to focus solely on the interests of investment intermediaries. This renewed commitment is being supported by the appointment of two new board members to the AIFA Council; Wallace Dobbin, Managing Director Corporate, from Intrinsic and Keith Blacker, Chairman, from Protection & Investments Ltd.
Following the recent structural changes the Council are considering the best structure for the trade body in navigating the changing regulatory landscape.
Lord Deben will remain as Chairman of both organisations and will ensure a dialogue continues on industry issues of common interest.
Commenting on the changes, AIFA Council member Dr Keith Blacker, Chairman of Protection & Investment, said: ‘As the most recently elected member to the AIFA board I fully support the changes that are being made and believe they will enable both organisations to look forward to a positive future representing their members. I see AIFA building upon its strengths and continuing to be the leading voice in the IFA profession.'
Jim Reeve, CEO, Positive Solutions:
‘In the last few months I think AIFA has come a long way to determine what it is and what is of most value to those we represent. We are reflecting on the organisational structure but the resources and talents of the board mean that we have confidence in our plans for the coming months and that AIFA has the financial wherewithal to deliver a strong message on behalf of our members.'
Neil Liversidge, Managing Director, West Riding Personal Financial Solutions, Ltd:
‘AIFA is determined to more robustly represent and articulate the interests of all advisory firms, small and large. The structural changes clear the way for AIFA to maximise its effectiveness in the coming regulatory environment.'
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