Thursday 9th of April 1998

Denys Wright is the new boss at the Association of Investment Advisers and Financial Planners (IAFP) following the abrupt resignation of former chairman Rodger Spiller and three other members just over a week ago.
Spiller, along with his deputy Mark Hubber, Craig Myles and Katrina Hawker resigned their positions for a variety of reasons, including the proposed merger with the Insurance and Investment Advisers Association (IIAA) and the management of the association.
They said, in a letter of resignation, that they were under constant attacks from fellow members of the association over their actions.
The effort put into running the association was not worth it when compared against these attacks, they said.
Also Hubber, Hawker and Myles decided they were not prepared to spend another term on the board.
The new deputy chairman is Phillip Matthews, who is also a member of the committee negotiating a merger with the IIAA.
Also appointed to the committee are Andrew Nuttall and Stephen O'Connor from the Southern region, Bernard Gresham representing the Central region and Paul Forder from the Northern region.
Good Returns understands Gresham's appointment has to be confirmed at the next meeting.
It is understood the new committee are keen to implement an installments payment scheme for IAFP subscriptions.
A number of IAFP members have expressed concern the association has sent out invoices for 12 month subscriptions, when it is looking at merging with the IIAA in the first six months of its financial year.