MEMBERSHIP

Membership

The Benefits

Around 85% of your colleagues are now members.

 

 

  • Access to members-only area of website - view research results, factsheets on good practice, and updates on industry thinking.

 

  • Technical Helpline - the support of policy experts via a technical helpline where you can discuss your regulatory problems, compliance issues, or simply air your views.
    For technical support, members can call us on 020 7628 1287

 

  • Working Parties - get involved with our Working Parties, such as the FSA Fees Strategy Group and contribute to research to shape our policy agenda.

 

  • Publications - offering impartial reviews of the biggest issues affecting you.

 

  • Monthly Connect and weekly e-newsflashes - updating you with developments as they happen.

 

  • Regional Events - Invites to annual regional events where you can learn from expert industry speakers and network with other professionals.

 

  • AIFA FF>>WD online Business Transition Academy (www.aifaffwd.net) - helps firms plan the journey required of them by the RDR. This online system helps business leaders to create more profitable and sustainable businesses in the future.

 

  • 'Your Voice', our online web chats - this is your opportunity to discuss industry topics and pose questions to our AIFA Directors and guest speakers online, in real time.
    http://yourvoice.aifa.net/

 

 

The Policy Agenda

On the domestic scene we have seen the Retail Distribution Review proposals - and AIFA is campaigning vigorously to protect every good firm in the profession.  This will be a tough lobbying exercise - and we need to unite if we are to deliver a better outcome than the FSA proposals currently suggest.

 

We've also had sight of the Mortgage Market Review, plus other regulatory initiatives that have come thick and fast. Some have been spurred on by the political pressure to be seen to be ‘doing something’, others have been part of longer term FSA plans. However it has never been our role to simply react and respond to the views of the policymakers and regulators, but to proactively shape their thinking. The previous year alone we have published fresh research in the aftermath of the banking crisis, on how to restore consumer trust in financial services. This report drew on work by Nottingham University that found IFAs are, consistently, the most trusted of all financial services institutions.

 

We also published work looking to separate out the advisory profession from other types of firms entitled ‘Agent of the client’. This work made a case for a different regulatory relationship given the different nature of the advisory profession to other channels.

 

A European perspective

We have committed more resources to work at a European level this year. Some of these are well known; the PRIPs proposals, the review of the Insurance Mediation Directive (IMD), the Mortgage White Paper. But others are less well understood; the review of the Markets in Financial Instruments Directive (MiFID), the credit Intermediaries Study, and the impact of Solvency II on intermediaries. Unless we make sure our voice is heard at this, highest of regulatory levels, we risk being confronted by new regulation which poses a clear danger to the livelihood of the IFA community.

 

Helping firms prosper

AIFA has delivered a number of clear ‘wins’ to our members that have saved them money. Despite massive opposition from the banking community, we persuaded FSA to reduce their regulatory fees to members by £11.7m this year. A saving of several hundred pounds per member - more than enough to pay for many years AIFA membership so we can win more battles! Read more HERE

 

Supported by Prudential, AIFA undertook a study of the ‘decumulation’ market. Out of this came a white paper entitled ‘Financial Planning through retirement’ designed to help policymakers, regulators and firms better understand the changing needs of consumers in this part of the market. To download a copy of this document, please click HERE

 

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