The members of the Authorised Representatives Association (ARA) have voted to close the 40-year-old trade body and join The Advisers Association (TAA), effective 1 July 2022.
The ARA represents around 90 financial planning advice businesses and approximately 250 advisers. ARA members voted for the closure of the association at an extraordinary general meeting in April.
Neil Macdonald, chief executive of the TAA, said: “We are very much looking forward to representing ARA members and supporting them as they help clients achieve better financial outcomes.
“Our two associations have a long history of working closely together via numerous consultation groups and this merger will give us an even stronger voice in what continue to be challenging times for advisers.
“As we have consistently said, in order to move forward, the financial advice community needs to genuinely collaborate. The merger will enable us to deliver a more united message in our ongoing communications not only within our own community, but also with the media and with the government.”
