After less than a year from launch, the AA has decided to close down its Independent Adviser operation due to the state of the market.According to the AA, the IFA side of their business was closed down in April 2002 but the closure was not revealed until now.
Although the operation was fairly small scale, they had the brand but still could not make it work. According to AA's head of Public Relations, "We have done a lot of work on the AA brand and we are looking to extend our products but not into independent advice".
Our view
Independent financial advisory services is not as easy as many larger players actually think. If you need independent financial advice talk to us - the Small Independent Financial Adviser of the Year 2002.
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