Letter: It’s time for IFAs to ‘put up or shut up’

Kevin Hopwood

There are very few options available to communicate our frustration and points of view in an effective way and I dare say some of us have expressed our views (or grievances) to our MPs with little or no success.

At our last meeting of our Berkshire IFA Group - an informal group of IFAs who meet monthly - we invited Gill Cardy of the IFA Centre to come and talk to us about the issues currently affecting IFAs and our profession. She gave what was a very impressive presentation - logical, rational and objective. A startling fact, given the IFA Centre is the only truly representative body of IFAs, is that it is struggling to survive and has only a membership of 98 firms - 238 individuals out of a universe of circa 8000 IFAs.

It seems to me we are committing mass suicide if we let this only true voice of IFAs slip away and with the only recourse being to our MPs and complaining among ourselves. If Ms Cardy were to fail from lack of support, be it on our own heads.

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The cost of membership is a relatively small sum and to put it bluntly, it is time to “put up or shut up” if we want to be heard and be represented in a logical, reasonable and cohesive manner. A walk through the website gives a good insight into the IFA Centre and its work.

Following Ms Cardy’s presentation I, on behalf of our business and a good number of my fellow Bifag members have submitted our applications to the IFA Centre and would like to hope that more of the IFA community will do so to ensure the survival of this worthy organisation in our own interests.

Kevin Hopwood

Managing director

Hopwood Ash Financial Planning Consultancy