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Stephen Gay is taking over as director general of AIFA. But can, and should, an insurance company director represent IFAs' concerns, fight your corner, fly your flag?
As distribution development director at Aviva, Gay said his philosophy on managing and leading people was being able to answer the question 'how do you see the future?'
For him it was to provide a vision that "aligns a team to a common cause".
As a man who has spent a lot of time on insurance companies' books (he worked for Prudential and Standard Life before joining Aviva), heading up the nation's biggest professional body representing IFAs will test that philosophy to its limits.
Already among the broad support for his appointment are whispers of concern over his background.
Simon Chamberlain, CEO of Succession Advisory Services, expresses "surprise" the role has gone to somebody linked so much with large insurers.
"I just hope he has an understanding of the true difficulties distributors face," he says.
It is a hope every IFA will share.
Gay has certainly been vocal on some issues vexing IFAs, and has often come out against FSA-orchestrated schemes.
He backed an independent board to oversee development and qualifications in financial services, and was disappointed when the FSA scrapped it in favour of an internal structure.
He rightly argued, along with the PFS and the IFP, that a neutral board would drive professionalism and promote trust in the industry.
In the past Gay has also criticised the regulator for failing to consider the danger of adviser charging limiting access to advice for those on lower incomes.
Nevertheless, IFAs are a sceptical bunch, and Gay must be worried his past provider affiliations will come back to haunt him.
Another problem, though perhaps easier to solve, is Gay's profile. Chris Cummings knew and was known by everyone.
By comparison, Chamberlain best sums up Gay's position.
"I do not know who Stephen is. But I would offer him my best wishes and say good luck."
Gay is going to need every ounce of luck, and good PR, he can get.
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Well Done
As a man who has seen all sides of the industry - not just hiding in the ivory towers of the providers' managment structures, with many years of experience (I remember working with Stephen in London when I was still a scruffy teenager!), Stephen has seen this industry pushed and pulled through a series of regulators and changes and will bring a wealth of experience and common sense to this role! Congratulations Stephen - I believe in you! No pressure there then!! Harriet
Posted by: Harriet Mackenzie-Williams
Well Done
As a man who has seen all sides of the industry - not just hiding in the ivory towers of the providers' management structures, with many years of experience (I remember working with Stephen in London when I was still a scruffy teenager!), Stephen has seen this industry pushed and pulled through a series of regulators and changes and will bring a wealth of experience and common sense to this role! Congratulations Stephen - I believe in you! No pressure there then!! Harriet
Posted by: Harriet Mackenzie-Williams
Well Done
As a man who has seen all sides of the industry - not just hiding in the ivory towers of the providers' managment structures, with many years of experience (I remember working with Stephen in London when I was still a scruffy teenager!), Stephen has seen this industry pushed and pulled through a series of regulators and changes and will bring a wealth of experience and common sense to this role! Congratulations Stephen - I believe in you! No pressure there then!! Harriet
Posted by: Harriet Mackenzie-Williams
Well Done
As a man who has seen all sides of the industry - not just hiding in the ivory towers of the providers' managment structures, with many years of experience (I remember working with Stephen in London when I was still a scruffy teenager!), Stephen has seen this industry pushed and pulled through a series of regulators and changes and will bring a wealth of experience and common sense to this role! Congratulations Stephen - I believe in you! No pressure there then!! Harriet
Posted by: Harriet Mackenzie-Williams
Well Done
As a man who has seen all sides of the industry - not just hiding in the ivory towers of the providers' managment structures, with many years of experience (I remember working with Stephen in London when I was still a scruffy teenager!), Stephen has seen this industry pushed and pulled through a series of regulators and changes and will bring a wealth of experience and common sense to this role! Congratulations Stephen - I believe in you! No pressure there then!! Harriet
Posted by: Harriet Mackenzie-Williams
What we want to know is..
Many IFAs perceive they are fighting for their livelihoods and the continued ability to provide for their clients with the kind of service they have been doing over the last 20-30 years. What is needed is not a diplomat, seen many of those come and go have we not, but someone with experience at the front who has the drive, not because it's another role or stepping stone, but because they are passionate about IFAs as the top tier of customer advocate. We need a Churchill not a Chamberlain to represent us. Has Mr Gay IFA experience ? ... can I pretend to know what it's like to live on the front line just because I’ve watched a film about it ..I don’t believe one can ? In fact, given this is an IFA Assoc, can we know the IFA history of the senior people please, like we did for NFIFA ? Please let us see the full IFA CV of the senior staff. Please let us see the mandate that AIFA is now going to work on.. what are the main issues and what are the desired outcomes, from AIFAs viewpoint now ?
Posted by: Anonemouse
Stephen Gay
Who? My over-riding concern when Chris Cummings announced that he was leaving AIFA was how his successor would be chosen and by whom. I am no wiser, yet once again I am footing the bill; for who? with what qualities to represent me? How can Stephen Gay know IFA concerns from the pinnacle of AVIVA PROFLIGATE, EGO CENTRIC ORGANISATION THAT IT IS, or Sesame, an organisation that I know little about or Stephen Gay's role there. All I have is a name from nowhere, with what qualifications, who will now hold the future of my profession firmly in his hands. Stephen Gay, you had better be good. Terence P'O'Halloran Chartered Financil Planner
Posted by: Terence P.O'Halloran
who?
I too am concerned about how this appointment 'happened'. I don't seem to recall Mr Gay being a champion of the IFA. He may well be and in that case I apologise for my lack of knowledge about him. I don't think he has long to cut his teeth. If I was Mr Gay I'd be working my socks off for a bit.There's a load of stuff heading our way and some IFA's are already in the midst of it. Somebody needs to be the voice of the IFA...Can Mr Gay be it? I sincerely hope so.
Posted by: Roddy McKenzie
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What happened to research?
There seems to be a whopping assumption in this story that Stephen Gay has worked at Aviva since he left school. In fact he hasn't been there that long and I had some dealings with him at Sesame (definitely not a life company last time I looked) not that many years ago. What happened to the 'investigation' bit of Investigative Journalism?
Posted by: Stanley Kirk