Attaching the SPS to the representation will ensure that the cost is spread more equitably.
Finally, we would concentrate those industry non-execs who are willing to serve onto one body. I know this will not be easy.
Similarly, you need a very strong and committed staff who are there to represent their membership. Unfortunately, too many arrive chasing better jobs and gongs.
This is not going to be easy.
I have seen this before - in the UK furniture industry. Years of poor representation and meagre funding created the perfect storm. When [the last downturn happened], 60 per cent of the industry disappeared in five years.
We cannot let that happen to professional financial advisers.
Garry Heath is director general of the Impartial Financial Advisers Association
