In a surprise move the Association of Investment Advisers and Financial Planners (IAFP) has indefinitely postponed its planned special general meeting relating to the creation of a new advisory association.
In a surprise move the Association of Investment Advisers and Financial Planners (IAFP) has indefinitely postponed its planned special general meeting relating to the creation of a new advisory association.
The meeting, scheduled for August 20, has been called off as the IAFP is still waiting for the United States-based Certified Financial Planner Board of Standards to agree to transfer the CFP licence to the new association.
Without the Board of Standards' approval it is questionable whether the majority of IAFP members would agree to forming a new association with the Insurance and Investment Advisers Association.
The IAFP had been led to believe a decision on the licence transfer issue would be made by now.
However, the process has been held up as the summer holiday season in the United States has made it difficult to get the board together.
The matter will now be discussed at the Board of Standards next board meeting which is scheduled for September.
While formal approval hasn't been given for the CFP licence to be transferred to the new association, the Board of Standards executive has indicated it is recommending the CFP Board sanction the licence transfer on a conditional basis.
While those conditions haven't been made public, it is understood the IAFP board are comfortable with them.
In a surprise move the Association of Investment Advisers and Financial Planners (IAFP) has indefinitely postponed its planned special general meeting relating to the creation of a new advisory association.