29 Jan, 2008
Helen Pow - 28-Jan-2008
Association of Independent Financial Advisers launched its
manifesto for advice at a parliamentary event with pensions
minister Mike O'Brien today.
The manifesto sets out guiding principles which Aifa says will
deliver a more skilled, professional and ethical adviser community.
It calls for cooperation between the industry, advisers, consumers,
providers and regulators to build a robust future for financial
It states that advisers have an obligation to deliver the most
suitable advice in the interest of their clients and that consumers
should be able to obtain fair, expert advice from financial
advisers in order to improve their long-term financial situation.
The manifesto also points out that providers have an obligation to
support the market for fair and high-quality financial advice and
advisers have the right to expect a consistent, cost-justifiable
and fair approach to their regulation.
Aifa director general Chris Cummings says: "The manifesto sets
out our guiding principles for the future of advice which we
believe should be embedded across the industry. For the principles
to work in practice we need the support of regulators, the
Government and consumers."
O'Brien said: "This is really good stuff from Aifa. It
represents an important step in the debate setting a vision for
IFAs giving advice in the future and I look forward to seeing the
progress IFA's make over the coming years as they put this
manifesto into practice."