Following this notification to Liversidge, he made a number of recommendations regarding SAG membership, many of which were accepted by the board at its June 2022 meeting, according to Pimfa.
Pimfa said: “Liversidge made further recommendations, which were considered at the September board meeting, and again many of those recommendations were accepted by the board.
“Among the recommendations made by Mr Liversidge, and accepted by the board, was that existing members should be allowed to stand again after they have completed their initial two-year term should they wish, in perpetuity, subject to the voting of the IFA members.
“Ultimately, should existing members of the SAG secure enough votes from financial adviser members they will be reappointed to the SAG.”
The member voting process began in September and under these new revisions, Liversidge is now a candidate for re-election to the SAG.
Pimfa emphasised that a variety of its smaller member firms are “well represented on the SAG” and there is a greater turnover of larger firms.
“All financial adviser firms - large or small - are also welcome to sit on any of Pimfa’s committees and working groups we run and there is a large number that do,” it said.
sonia.rach@ft.com
Update
The suspension was subsequently revoked.
Liversidge continues to serve on the PIMFA Strategic Advisory Group, having been re-elected by the members of the small firms’ constituency by an overwhelming majority.
