Aifa needs 'new mandate' after Cummings, says Cann

I do wonder at the sense behind Nick Cann's comments, or even if it is appropriate for him to have made the comment in the first place.

It does make one wonder if, as ever in this business of ours, there is a hidden agenda in what he is saying.

What we need is a real IFA to represent IFAs, otherwise it's all a waste of time.

I do wonder if Nick has been quoted in full here. Even in bar at 2 am on day 3 of the IFP conference Nick makes more sense than these extracts do!

Nick

Is this your diplomatic way of saying that AIFA should drop the ‘I’??

If so think again. As a member of both the IFP and AIFA I feel entitled to comment.

One of the reasons IO don’t fully engage with the IFP is that you have consistently sat on the fence when it comes to independence. I have always found this to be most strange as the vast majority of your members are (and always have been) independent practitioners. For me the term IFA still suffices, but I know the IFP prefers Financial Planner.

In the case if the IFP – as a professional body independence would be very nice (and logical – let the PFS have the reps) but I guess I can stomach it as it is.

What I will not stomach is a Trade Body that purports to represent me that isn’t 100% committed to independence. If the ‘I’ is dropped it is no secret that I will resign the day after.

Chris has indeed put his heart and soul into AIFA and has done a magnificent job, notwithstanding the constraints and pressures he has been under. That he has throughout maintained his good humour is another miracle.

AIFA may well reinvent itself. Time will tell, but it certainly does not have to be at the expense of independence.

Harry Katz

Use external consultants? I hardly think so, given what the FSA has blown on them over the past year.

What's the FSA's response going to be to a representation from AIFA based on a £20,000 "external consulation"? Well OUR external consultation cost £200,000 and what it says is directly contrary to yours (we paid extra to make sure it would) so go screw yourself, AIFA.

Get real, Nick.

I agree.

Really the majority of members are getting duplication of information from AIFA, those that are self regulated without any support at all will definately be in a minority soon as they get TCF visits.

Personally I think it could reduce down to using external consultants for specific work such as PR lobbying etc, hire an MP for a couple of Ks a day!!

I agree with Nick. Look at what IFAs need, see if they can provide it then look at the most cost efficient and effective way of delivering this. The banks are lobbying specialists we have nothing at all in place to match with enough clout behind it.

Consultants are worth employing and worth listening to when they arent being hired to agree and paid long hours to make a terrible idea look moderately convincing. Or just ignored altogether!!

Oh and PS Nick, what business is it of yours? AIFA doesn't tell you how to run IFP - and believe me as a member I know only too well that there is a very great scope for improvement at IFP.

Indeed your balance sheet (Plusses versus minuses) is a long way short of that of AIFA. So please watch the greenhouse.

Julian Stevens has very neatly shot your somewhat off the cuff remark down in flames.

Michelle I too would like to add my name to those asking for a ban on anonymous posts.

Apart from all the perfectly valid reasons already stated, in my view these posts are more often than not absolute drivel. Take for example the ignoramus in Anonymous 1 above.

I and many others of my acquaintance are directly regulated and have already gone through their TCF assessments without any problems. It is the nature of these posters that they most likely (and thankfully) will be precisely those ones who will disappear post RDR if the prognostications are proven to be correct.

Is Nick Cann looking toting for the job? Or was he tired and under the influence?

Dear Me

I meant to say "touting" for the job, illiteracy abounds among great unwashed, that is why a 'Real IFA' is as dangerous as the 'Real IRA', nutters united!

Re Harry, if you look I said in the 'minority' you appear to have taken this personally. I also said in the minority 'without support' most self regulated IFAs in my area pay for consultancy support, even if it is in small amounts via their paraplanner who has started providing additional assistance in areas required by their clients, TCF admin etc. Others use services off a menu, Simply Biz, Tenet etc etc

I think you have taken this the wrong way.

The information we already get is being repeated by AIFA, everything they send to me in this area is old news, but news we are paying for. It could also be provided by a support service (sponsored by....), I bit like Reuters 'News in brief' without wasting funds on it and spend these elsewhere.

AIFA is good, but it is a good opportunity to re connect with its members, ie what do you already get.. what do you require.. what is the best thing we could for our members...

Quite sensible or someone else will step in to the breach and then these services will also become fragmented.

Anon 1

Personally I don't need to contribute to a leech organisation and don't outsource anything and know that I'm far from alone. Therefore your comments are off the mark as far as me and my cohorts are concerned.

AIFA provides an invaluable service. And it's still none of Nick Cann's business.

And it still irritates having to read (and respond to) anonymous posts. For all I know you may have a commercial interest or some other non independent axe to grind.

No commercial or other axe to grind just an observation.

As far as those of use who already pay for services and there are many of us, why would we want to pay again for services we already get?

There are many thousands of us and if we all start feeling the same way then AIFA has a problem, I was already considering my membership before Nick made this comment, for me it was timely.

I dont like things to get too fragmented, which is why I stuck with the CII, but AIFA I feel is also getting distant, not ideal.