IFAs should lend their support to the Association of Professional Financial Advisers despite internal disagreements over its effectiveness, Gill Cardy has said.
Ms Cardy, the network development director of Cardiff-based Validpath, said: “The strength is in the numbers. The biggest problem with Apfa is the influence of the biggest groups, but it’s up to the smaller IFAs to do something if they feel there is a problem.
“I don’t think the answer is to throw your hands up and walk away.”
Ms Cardy, who founded the industry body the IFA Centre in January 2012, said it ceased activity in December 2013 for financial reasons after failing to reach what she called “a critical mass” in membership.
Her comments followed news that adviser Alan Lakey left the council because of his “frustration” with a lack of action at Apfa.
Mr Lakey joined the council in December 2012 but said he had not achieved what he intended.
He said: “Part of my frustration is when people want to talk about what they would like to do and they go and sit around and talk. There comes a point where you say enough is enough.”
Background
In a statement last week, Chris Hannant, director general of Apfa, said: “Mr Lakey has stepped down from his position on the Apfa Council to pursue other opportunities.
“We’d like to thank Mr Lakey for all of his hard work and support over the past 18 months as we’ve campaigned for a better deal for advisers through a period of substantial change.”
