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Wealth management shake-up: WMA and APFA to merge




By Daniel Lanyon on 8th May 2017

https://goo.gl/U36QgR

The Wealth Management Association and the Investment Management & Financial Advice Association have unveiled plans to create a new trade association for the UK investment advice and management industry. 

 

 

The two leading UK trade associations in the investment management and financial advice sector, the WMA and APFA, are announcing their intention to merge, as they look to become a joined-up representative body for organisations "that help individuals and families plan and invest for their financial future."

 

The resulting association will be led by Liz Field, currently CEO of WMA. Together the WMA and APFA will become IMFA (Investment Management & Financial Advice Association) effective 1st June, subject to the merger being approved by the members.

 

The combined IMFA membership would represent UK firms offering a range of financial solutions, including investment advice and portfolio management, as well as investment and execution services, financial planning and advice for private clients. 

 

Through the merger, both trade associations say they can unlock further synergies for the benefit of members by championing a wider remit. Both trade associations’ Boards have recommended the proposed merger.

 

Liz Field, CEO of the WMA, said that “the resulting trade association will continue to lead the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the investment advice and financial management arena”.

 

Chris Hannant, Director General of APFA, said: “the proposed new trade association will provide a stronger, united voice that can better lobby on behalf of the combined membership”.

 

The proposed merger reflects the current changing landscape, and comes at the same time as other trade association merger activity in the country’s financial services industry.

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