Sinclair says that with the backing of the Association of Independent Financial Advisers, the organ- isations have the funds and resources necessary to carry on as separate entities for as long as their sectors require them to do so.
He says: “We have the flexibility and the money necessary to fund jobs across both bodies.
“We intend to continue running both AMI and the AFB – as long as there is a market requirement we will be there.”
Speaking at Abbey’s key accounts conference in Sunningdale last week Chris Cummings, director-general of AMI, warned the number of mortgage brokers could plummet.
He says that if present trends continue there will be a reduction in the number of brokers from a peak of 30,000 at the end of 2007 to a low of around 15,000 by the end of 2009.