He said: "Over the last 20 years IFAs morphed into looking more like wealth managers and the traditional stock brokers started to look a little bit more like IFAs.
"As the two business models came close together [this] was not well supported by two completely separate trade associations that were focusing on the old business models.
Article continues after advert
"The manifesto is a rally and cry for members, saying we are addressing what you have come and told us to address."
carmen.reichman@ft.com
Page 2 of 2
