MEMBERSHIP
Membership
The Benefits
In the know
Around 85% of your colleagues are now members.
Representation where it counts
- Effective representation of the IFA sector - lobbying and responding to key industry issues and detailed policy and regulatory matters for the IFA profession.
- Better promotion of the IFA profession and the need for financial advice
- A campaigning style of lobbying that is all about delivering change and improving the market for your business and the consumer
How members benefited in 2007
- Compensation Scheme Review. AIFA’s influence persuades the FSA and FSCS Boards to implement proposals that should see the IFA profession pay radically lower bills in 2008 – up to 50% lower fees for an IFA with one adviser.
How members benefited in 2006
- Compensation Scheme Review. Not only did AIFA bring about a wholesale review of the FSCS, but also persuaded the FSA and FSCS Boards to back proposals that should see the IFA profession pay radically lower bills in future. At £1,440 per RI, we support AIFA’s call for a reduction in costs.
- Instalment Scheme. AIFA introduced this scheme in 2005 and made sure AIFA members received a discount, saving many of them £hundreds.
- Ombudsman. AIFA delivered a funding review of FOS, which should see an end to the “permissions” based way of funding FOS (so recognising the value of holistic financial advice), an increase in free cases from 2, and an end to the “special case” fee of £475.
- FSA. After constant pushing, AIFA finally saw the National Audit Office agree to undertake a review of FSA’s expenditure. In addition, AIFA has delivered a scheme whereby firms can now pay all regulatory bills in instalments, AIFA members receive improved terms. They have secured this scheme’s future over the long-term.
- Europe. Having taken their lobbying work to Europe, AIFA secured an “opt-out” to MiFID, which should mean members are not caught by the need to hold far higher levels of PII and capital. AIFA is wary of MiFID – its rules based regime clashes with the new principles based approach of the FSA and fears IFAs may be caught between the two.
News straight to your PC
Regular, up to date, news on regulatory and political issues in plain English via e-mailed newsflash and Connect (our monthly newsletter) services.
Adviser Lists
If you specialise in offering advice on Contracting Out or Equity Release, you are entitled to list your details on our Adviser Lists, free of charge:
Networking
Opportunity to attend conferences and working groups to discuss matters of mutual interest with other IFAs, and hear influential speakers.
A listening ear
Telephone helpline giving specialist advice on competence, regulation and other relevant matters - a friendly ear to listen to your issues and offer thoughtful suggestions.
Access to knowledge
- Informative website which includes information for members only via access to a password protected area.
- Viewpoint - our independent review of topical issues - we explore current concerns and feed you the results.
Cheaper rates on the instalment scheme
AIFA negotiated the regulatory fees instalment scheme - using this scheme you can pay your FSA, FSCS and FOS fees over the course of the year. Plus, as an AIFA member, your firm qualifies for a discount off the standard scheme charges.
Participate in research
A monthly questionnaire, allowing you to voice views to us and to share information with us, so we can better influence policy.
Voting rights
Full voting rights with the Association: you get to choose the AIFA Council, our elected governing body by casting your vote at election time. If you want to make a real difference to the profession, why not stand for election? All member firms have an opportunity to get more involved and AIFA and make their views known.
Room hire
Room hire in London at reduced rates.
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