Founded in 1999 and representing almost 250,000 advisers and intermediaries across Europe, “it is very welcome for us to have a new, vibrant UK trade body on board”, said Fecif secretary general Paul Stanfield.
“The UK is quite obviously a major and very mature market within Europe and this, in itself, is highly beneficial to us. Given the Brexit scenario such a relationship is likely to become increasingly important, probably for both parties.”
Stanfield added: “Having a UK trade association with expertise and experience within our membership can only widen and deepen our overall knowledge and capability. It makes us stronger and even more representational of our sector.”
Under serious threat
Libertatem director general Garry Heath said: “The independent financial services sector in the UK is currently under serious threat. Adviser numbers are diminishing, costs are rising and the regulatory body is continuing to control the direction the industry is heading with little regard to those it purports to regulate, or to the consumer.
“This is why we, as an industry, must now unite as one to shape the future of financial services. In particular, we must remove this nonsense of an ‘independent’ regulatory regime and demand that it be accountable to parliament, the consumer and to the industry it claims to serve.”
Heath continued: “Whilst these core beliefs of Libertatem relate initially to the UK, the same principles are equally valid in Europe, if not more so. We therefore want to help Fecif continue its long-standing and excellent work, supporting and assisting advisers and intermediaries across Europe.”
