Members voted overwhelmingly for the merger, which — in order to move to the final stage - required at least 75 per cent of voters to be in favour. The outcome was announced this afternoon at an extraordinary general meeting in Kenilworth with 87% of the votes casts in favour and 13% against.
The merger — scheduled for completion by January - will now go ahead if it also secures the backing of SOFA members at their EGM on October 15.
LIA director general Mark Ommanney said: "We are delighted that LIA members have supported the proposals, as we believe that the Personal Finance Society will offer the best way forward for both of our organisations."
