Shock as Cummings quits Aifa to lead new City promotion body

Yippee!!!!

I wish Chris every success with his new role with TheCityUK. He has been a

fantastic DG for AIFA. Its a great appointment and will benefit all of us in UK Financial Services. He has my support that's for sure.

Good riddens as you did nothing for IFAs and will do nothing where you go. You know nothing about finanicial products or its' distribution and will probably know nothing about what you are about to be doing. Another useless beaurocrat meddling on political nonsense.

Arrivederci from an IFA for over 30 years

As far as I can tell, Chris did his best within the limits of diplomacy to argue the IFA cause. It's all very well to say that he didn't achieve more, but a more aggressive approach might well have resulted in FSA simply slamming down the shutters and refusing to entertain any further negotiations. Look what happened to Evan Owen ~ an ardent capaigner for IFA rights, to be sure, but now, it seems, just a fringe commentator.

My only disappointment is that Chris Cummings seems to be jumping ship at exactly the time of greatest need for those whose interests he has represented. Obviously, his own interests are a higher priority ~ as seems to be the case with so many of the people at the FSA from whom he's been trying to win concessions. Was he really committed to the IFA cause, or was AIFA just a stepping stone to better and very probably even better paid things?

PLEASE MAY I APPLY! Donna Hopton www.cherryfind.co.uk

Anonymous 1 - it surprises me that in your 30 years as an IFA you have never stumbled across spellchecking software, or indeed more than a slim grasp of grammar. May I recommend both to you, as a means of making a point without appearing to be a churlish oaf.

Thanks must go to Chris who I think has done sterling work for IFAs in general in a very difficult climate.

How do these quangomeisters manage to move from high paid job to higher paid job without any obvious talent? This man was a waste of space at AIFA and will be wherever else he pitches up.

I see Chris has got all his mates spamming this blog!!

Chris has done much for the beleaguered IFA community - more than most of his ignorant AIFA members realise. He has championed the cause with bureaucrats and politicians in a sensible and pragmatic way - unlike a number of smaller associations and IFAs directly - who have done nothing but antagonise the very same bureaucrats (btw Anonymous 1, pls note correct spelling) and politicians who make and influence the policy they complain about so bitterly.

For those IFAs who understand and support the changes we face over the next few years - I feel sorry for you that such a worthy DG will be leaving - for the rest of you; there is little hope left - get out while you can and leave the rest of us to pick up the pieces and rebuild them in a solid and sustainable way.

Chris, thank you for all of the really great work that you and your team have done for the IFA sector.I know you have achieved far more for your Members that you have taken credit for. You have campaigned with real enthusiasm and vigor and i wish you all the best for your new role.

"I see Chris has got all his mates spamming this blog!!" ................................. And they've both posted twice already!!

Much like Julian Stevens said, as far as I can tell, Chris did his best within the limits of diplomacy to argue the IFA cause.

It would be nice to see some kind of constant head of ANYTHING and anyone working on RDR. Amanda Bowes at the FSA went so we had to start discussing points again, Hector Sants, Sally Dewar and now Chris Cummings.

The only people who appear to remain constant are the small IFAs providing a consistant servcie to their clients and not looking to climb a slippery pole of promotion (just looking to be allowed to continue doing what they do well)

Anon 6 was me, I didn't mean to post anon!!!

My God

I really didn't realise how many churlish, ignorant yobbos there are in the IFA community. Additionally they also seem to be cowards as they insist on anonymity.

I do hope that the rumours of a fall out of some IFAs after 2011 will include them. If that is their view of Chris it merely demonstrates their complete lack of understanding of and engagement in all matters to do with retail financial services.

Chris Cummins has been nothing less that magnificent in his role. There are the just a selection of the problems he has had to negotiate during his tenure:

Dealing with the ignorant – as in these posts.

Trying to balance the interests of the big outfits (who are the major funders) with those of the little guy.

Getting to grips with and gaining the respect of a regulator who does not fully comprehend those that it regulates, has too often shown antipathy towards them and considers itself omnipotent and infallible.

Overseeing the European element with all its complexity and potential injury to the smaller intermediary.

Being always available for any member at any time.

Assembling a first class team – each one of which puts in maximum effort all the time.

And achieving all this on a shoestring budget and keeping the Association solvent – no mean feat.

If you only had an inkling of the workload that this man has borne perhaps some of you whingers would have a little more respect.

Sure he didn’t always hit the target, but then who gets it right all the time. I won’t bother to list the considerable number of achievements because it is obvious that some of you think that he should have stopped the exam requirements and preserved the commission system. You people should get back on your horses and return to your candle lit offices.

In conclusion. Thank you Chris. There are many who greatly valued your time at AIFA.

Dear Anonymous 2,

Whilst your pompous criticism of Anon 1 had some substance, it rather foundered when finishing a question with a full stop, as opposed to a question mark, as well as use of the alternative word "or", when "nor" is a more appropriate inflection. "Had never" is the more correct past tense of not stumbling across something, rather than "have never", which implies an ongoing negative participation. Your use of punctuation appears to be erratic and this blog site is bereft of spellchecking software.

Besides that, I feel that Chris did a reasonable job in the circumstances and Anon 1, very evidently, holds a view that is diametrically opposed to mine.

I'm also sorry to see Chris leave, especially at this point in the RDR process.

Thank's for all your hard work!

I would agree with Harry K's comments. Trying to deal with The FSA is not an easing matter and Chris has done an excellent job. Who of us can say that we have achieved everything we set out to do. Chris has done well and whilst having to aim at a moving target. Its a pity it is happening now, but it is our loss and others gain.

Very few things in life are achieved by simply shouting at the other side - whether at home, in parliament - or in financial services sales or regulation.

It is absolutely true that a lot of negotiation goes on behind the scenes - and to regard that as time-wasting or ineffective just demonstrates even greater ignorance than some of the above posts and others elsewhere have displayed.

Just because we may not like what comes out of the Regulator does not mean that proposals are not considerably better than the original versions, worked on before they were made public.

Chris has worked tirelessly on behalf of the IFA community - all of it, not just those who belong to AIFA, and not just those who can manage to keep a civil and professional tongue in their heads. I am not sure why he should be berated for changing jobs - after all, you'd shout loud enough if AIFA DG had lifetime tenure!!

He will be a hard act to follow.

I'm afraid I echo the comments of the previous posting. Although the rhetoric sounded good the substance was lacking too often. It simply isn't good enough in that role to talk a good game without backing it up with action.

It's very brave of Harry K not to hide behind anonymity....!

A string of posts such as these does strengthen the argument for the removal of the ability to post replies anonymously. I find it disheartening that people feel they have a right to be rude because they have a veil of anonimity. The image of sad, pathetic and small minded cowards springs to mind. If you've got something to say, and feel it's worth saying, then at least have the courage to put your name to it.

Onto the topic in hand, the departure of Chris Cummings. Whilst not a fan of everything that Chris has stood for, I recognise that he has a difficult job of steering a path through a diverse range of views from within the AIFA membership, and at the same time, be mindful of the external factors that influence AIFAs stance.

I have found him to be a skilful presenter, debater and policymaker - even if I haven't agreed with everything. He'll be a tough (though not impossible) act to follow, but he does have a talented team - AIFA isn't a one man show. I have had the opportunity to work with Chris and the team at close quarters over recent motnhs, and have a greater understanding of the political minefield they have to negotiate. I think they do it well.

It has been said that dealing with IFAs is like herding cats, so we should give credit where it's due. Some of the above posts would seem to show that we've got a lot of feral tom cats that would p*** in other folk's backyards. I find mysef agreeing with comments from a previous post, if these are the people who leave financial services as a result of RDR, good riddance.

Firstly, in all my limited dealing with Chris Cummings he came across as a gentlemen and that goes a long way in an industry full of duplicitous cutthroats! Chris was and is a diplomat.

However, Roosevelt said: “Speak softly and carry a big stick", and in AIFA’s case there was no stick – no power and a nice guy without power reads week when dealing with an all powerful regulator with unlimited funding from the poor souls they persecute.

Diplomacy has taken independence to the very edge of an abyss and along with it AIFA who may face the future without sufficient IFA’s to even pay future wages.

I wish Chris Cummings all the best luck in his new career and I watch with anticipation for his replacement but please forget the diplomacy it’s time to do some bloodletting after all what have we got to lose – independence, our jobs, our future?

Good luck Chris - I wish you well now that you are free from this regulatory hell hole.

SIMON MANSELL

TEMPLE BAR IFA LTD

God you guys give me a good laugh! Between Anon 1 and Revohtron you have the complete opposites.

I think that Chris Cummings has done a good and a bad job. I believe he has stood up and fought our corner on a number of occasions but on others he has taken the easy option. Diplomacy does not always win the dayh.

The problem is not with AIFA but with our industry. It is too fragmented with too many vested interests. You only need to follow the Citywire Blog to see such. Hargreaves Lansdown in one corner, small IFAs in another and then if you take into account the insurance companies well that is something else.

I wish Chris Cummings well in his next job he has been fighting a losing battle. Until the FSA is scrapped or has a reasonable dialogue with the IFA community, then nothing will I imagine change. You can force dictat from the centre all you like, but change brought about through dialogue is much better.

However it is not about the industry, it is about the consumer and have things changed for them over the last 20 years. We know it has not changed for us, we have more form filling, morewhether or not the consumer is getting a good deal and are advisors giving qualify advice. Perhaps if we were not such a mixed bunch we bunch self rightous

It is not about the industry

An excellent post by Harry K with which I agree wholeheartedly! I didn't always agree with the way that Chris fought our battles, but I didn't doubt his committment. Some of his shriller critics on this page should realize that his job was to use his best judgement to look out for our interests - not merely to act as an echo chamber for the views of those empty vessels who made the most noise. Had AIFA voiced its objections to some of the frankly idiotic FSA schemes over the last few years in the way advocated by some of its dissenting members, I suspect that the FSA position would have been even more entrenched. Given the mindset within the FSA towards IFAs generally, I think he got the best deal possible in the circumstances. It's a damn' shame he's going but, like the rest of us, he has to put bread on the table and I wish him every success.

Despite all this huffing and puffing and stone throwing, the burning questions remain ~ why and why now?

Doesn't all of this debate swing between whether Chris was a nice bloke or whether he made a difference.

Changing jobs is what people in quangoes do as it seems to be a rule of thumb not to be left holding the baby - listen to our current rulers !

At the moment we still seem to be facing all of the changes that the FSA wanted to make to our industry through its RDR and the only likely changes before implementation will be around the providers ability to control and influence distribution through financial inducements - whatever these end up being called.

Working hard is itself hardly a notable activity andneither are good intentions, so in the end people who choose to represent others have to be judged on what they deliver against their mandate.

Perhaps it would be useful if someone could simply list the concrete achievements of the person and the organisation which could then be considered to have been worthwhile or otherwise.

To all those who are not aware Harry K = Harry Katz. This signature was not of my making and I have asked Citywire innumerable times if they can put it right - so far without result.

Sorry if anyone thought I was being coy!

Good luck Chris. You were obviously passionate about your role and a great ambassador for the IFA industry. Your charisma and infectious enthusiasm will be a hard act to follow. I wish you the best of luck in your new role.

Sorry to say this, Harry, but as I get older I find myself agreeing with you more and more!

Perhaps Philip Melville would've done well to have read your post first, before replying as the list of achievements is contained within.

Being head of AIFA is unlikely to please everyone, but someone has to do it and presumably those that feel Chris didn't achieve 'anything', would do well to consider how successful they would've been if they'd been prepared to put their heads above the parapet.

However, it does leave us with the problem of 'what now?', & 'who now?'

I have to say that those who thought Mr Cummings completely unqualified for the position are unlikely to be impressed with Ms Hopton either

Chris, I agree with the positive commentators on this blog\ forum, and thank you for all of the really great work that you and your team have done for the IFA sector since you stepped up in 2005.

We all thought following Paul Smee was going to be tough, and indeed it was, but you did that extremely well. You have campaigned with enthusiasm, vigor and also realism and I wish you all the best for your new role .

"The king is dead, long live the king!" I am sure your successor will be giving all the support necessary to be a success.

.

Hi Dermott,

Forgive the senior moment, but perhaps you could list the actual achievements as opposed to the aspirations.

Most of us live in a world we survive on getting paid for positive results and indeed can usually only buy the groceries if we have been successful and subsequently paid our just rewards.

Not sure that the checkout girl at Tescos would let me out with my weekly shop without paying on the basis that I had been working hard all week with the best intentions in a difficult world - dont we all ?

There have now been generations of paid lobbyists in our industry and for the most part they have gone on to greater things leaving the landscape unchanged inspite of their undoubted good intentions.

Happy to listen to the factual counter arguments folks.

I do feel that Mr Cummings has been given an undeserved roasting here by certain posters. A reasonable analogy might be drawn between Sinn Fein (political) and the IRA (militant); both are reviled by the incumbent regulatory class but the former wears a suit and tie and does not punch/shoot the ignorant self serving idiot who is above the law.

Well said Harry and everyone who identifies themselves properly....there is no place in an informed environment for people who write antagonistic churlish insults against others whilst hiding, their thoughts have no credibility and therefore no value.

Dear Dermot

Don’t be sorry that you agree with me. You said it yourself – as you get older…. I’m not exactly a geriatric, but I guess still a bit of an old fart. And as you get older you get to be more of a grumpy old man. So this time I’m sorry – as you get older it’s inevitable!

Dear Dermot

Don’t be sorry that you agree with me. You said it yourself – as you get older….

I’m not exactly a geriatric, but I guess still a bit of an old fart. And as you get older you get to be more of a grumpy old man.

So this time I’m sorry – as you get older it’s inevitable! Welcome to the club!

However it isn't a requirement to be churlish (Thank you Mr Melville) as well as grumpy.

Harry Katz