The aim of the partnership will be to help clients of FEIFA members save on international payments while offering the ‘added value’ of a consistent provider.
Moneycorp is offering FEIFA members preferential terms on its standard commission payments, irrespective of business volumes.
FIEFA chief executive Paul Stanfield said: “Moneycorp has an excellent and longstanding reputation, having been exchanging currency for over 35 years.
“In 2015 it exchanged over £22 billion with more than eight million customer transactions; it has extensive experience of servicing European expats through its overseas office network and a strong history of partnering with financial advisory firms.”
Moneycorp business development manager Henry Bliss is inviting international advisers already using FX services elsewhere to consider switching to Moneycorp, which may be able to improve on their current rates.
Bliss added: “The goals of the partnership are to help FEIFA members’ clients save money on international payments, and to generate an additional lifetime revenue stream for member firms.
“For those IFA companies that have not investigated foreign exchange as a value added proposition for their clients, we can help them to transfer currency for reasons such as sending money home for bills or to family, purchasing overseas property or making currency investments.”
