Advisers told: Speak now if you want your voice heard

The code the group will develop will soon apply to all financial advisers – a population of more than 25,000 -  and will dictate things such as the qualifications they must have or the CPD requirements they have to meet. It is expected to have completed its initial work by next August.

It was revealed yesterday that the group will be chaired by Angus Dale-Jones, formerly of the Securities Commission and a PAA board member. John Berry, of Pathfinder, also features, and Shane Edmond, head of private client services at Shane Edmond, among others. 

The only adviser is Rebecca Vanderbom, an AFA who is head of financial advice delivery and service at Milford Asset Management.

Rod Severn, chief executive of the PAA, said it was disappointing that the group did not include a practising adviser. He said insurance was also under-served.