AIFA selection rules anger members

No Surprise

The Industry as a whole is influenced by individuals and quangos without any experience as an IFA or indeed,a business person. Salaried,office based and never been in front of a client is the norm. Terry O'Halloran has been an avid and outspoken defender of our Independent Financial Advice for many years and would be an ideal candidate for a position like this as he lives and breathes the IFA life.However, the future of the industry has long been in the hands of those who have no idea!

Posted by: Peter Taylor

Known ?

It would be a good move if Mr Gay were to step forward and lay out his vision for the future of AIFA and the role of IFAs so that we could gain insight and stop fill this vacuum so that people can make proper judgements rather than just resorting to assumptions. No doubt he something to say to the election panel and that something was what they wanted to hear.

Posted by: Mr Fisher

Brain in gear first - then comment

If Scott Sinclair’s report is accurate it only reflects the lack of real understanding and some very shallow thinking (if thinking at all) by those who have said that there should have been wider consultation. That’s fine if you are going to select from nonentities, but any really big hitter is likely to be employed while being head hunted or applying and it would do the candidate no favours to then have his candidacy splurged all over the place. Sometimes it is necessary to have a tightly sealed apparatus to achieve certain ends. I am on the Council and was no more privy than any other member as to the selection until it was officially announced. I wasn’t overjoyed at not having the opportunity to have my two penneth worth, but did understand the necessity. I did know those who were on the vetting panel and although never very chuffed to see too much input by the big battalions I also know that some very trustworthy representatives of the little guys were also on board. So in this like in everything else you have to end up trusting or you get nowhere. As to Terry O’Hallorans remarks – so I guess you didn’t have any input into the Iraq invasion or whether or not we should keep Trident – and I’ll bet you pay a whole lot more in tax than you pay in subscriptions to AIFA!

Posted by: Harry Katz

Stop complaining

The deal is done! Just as David Severn was a done deal although he didn't last long. It doesn't matter who is the figurehead because from what Chris told me all he or she does is advise the Council who then vote on whatever comes up, which biccies to have with tea or coffee for example. Having spoken to Harry Katz at length I can't work out how he can represent small firms given his extreme opinions. There are some extreme views out there, there is no balance. I get the feeling that the regulators don't rate AIFA very highly but do they have a positive opinion of any representative body? I would say not because all we see is constant criticism in public of all things regulatory, is it because it is difficult to talk to the FSA? It can't be too friendly with anyone, it is like any other regulator, the Planning system is equally rigid. They are just people doing a job, they are no more perfect than you or I but the task may be too enormous for them! I really do wish there was a middle ground, all I see is extreme views from the regulators and equally extreme opinions from the regulated. These blogs don't help, particularly when the illiterate and downright thick keep filling them with stuff which makes the regulators think they are right to wipe IFAs off the face of the earth. Please remember that current policy changes were handed down to the FSA by the previous government, will the new lot be any different?

Posted by: Evan Owen

all men are equal-not

Harry There is no need to reprimand others. If you were upset at not being allowed a say, then surely you can appreciate that others are simply voicing the same frustration. I used to enjoy reading your posts but nowadays they sound like something that comes out of canary towers, namely "I am right, everyone else is wrong"

Posted by: anon

In emergencies some extreme action is often needed.

Evan Extreme moi? If you mean I refuse to whinge about qualifications or fees then yes. But surely those who do are just as extreme. I passionately believe in Independent Advice and II am extremely worried that those smaller IFAs who won’t engage will get trampled on. I am extremely worried (as evidently you are too) that some of the less well informed opinion only serves to weaken our position. I am extremely worried that Independence is being sold out – by the regulator, by those who arte too afraid, too idle or just deniers to keep the faith. Restricted may be the way for the Networks – after all they are in hock to the life offices , but there are the small directly regulated guys who have the gumption to survive that are currently in extreme danger.. If that is being extreme I make no apology. And to Anon – of course I’m not always right – not even that often, but sometimes one has to put ones head over the parapet and express a view – even though it may not be a popular one. I don’t seek popularity, just the survival of the concept of independence. Is that so bad?

Posted by: Harry Katz