Former Apfa board members Gary Bottriell and Lord Deben were elected to the merged trade association’s board as member and chairperson, respectively, and are still in position.
Field had said the WMA was a small business itself “like many financial advisers", so understood their business models.
But back in 2017, Garry Heath, director general of the former sole trader trade body Libertatum, described the adviser membership as "only part of a 20 per cent ghetto".
Rob Sinclair, chief executive of the Association of Mortgage Intermediaries, is a former director at Aifa, which later became Apfa.
Speaking of the latest comments by Adler, Sinclair told FT Adviser: "It was very much due to the financial and personnel issues within Apfa that the Ami Board requested permission from the Apfa council to separate.
"While we hoped the split would allow Aifa to determine its independent future, Apfa clearly thought that integrating with what was the Wealth Management Association was the better future for both.
"I think that all trade bodies struggle with representing in a balanced way the interests of the largest firms alongside smaller firms. They often have very different interests and priorities.
"Ultimately scale and money counts, but having adequate representation on the board, as Ami has, with three practitioner members, ensures all voices are heard and listened to."
A spokesperson for Pimfa said: "Since [the merger], we have curated and continue to run a successful programme of regional outreach to meet members of all types and sizes across the UK.
"We have also been pleased to welcome numerous key figures from across the IFA community onto our committees and strategic advisory group.
"They add a valuable perspective to our work, adding weight to our collective voice of the wealth, planning and advice sector, which is particularly important in the current regulatory, political and economic environment."
