Although advisers and intermediaries play a significant role in the distribution of insurance, investments, loans and personal pension schemes, so far no valid and internationally comparable figures have been collected, the Brussles-based FECIF said on Monday.
“The European Financial Advice Market Research Project, which is being conducted by FECIF in conjunction with L’observatoire du Patrimoine de l’IPAG, a department of Nice University, is going to close this existing information gap by collecting facts and figures on a country by country basis,” it said.
FECIF represents in excess of 245,000 advisers and intermediaries across Europe, with a total of 639,000 employees.
Wide ranging
“The research team will survey the European advisory and intermediary market, collecting wide-ranging data that will include the number of intermediaries, sales turnover, number of contracts and products intermediated, the advisory workforce in Europe and in each member state, and assets under advice,” FECIF chairman Johannes Muschik explained.
The project commences this month and the expectation is that the final report will be presented in September this year.
“We are in discussion with, and specifically inviting, many other industry stakeholders to work with us on this major project,” said FECIF secretary general Paul Stanfield.
Stanfield said asset managers, investment houses, insurance companies, software/IT businesses, research companies, lawyers, accountants, management consultants and marketing firms could all benefit from inclusion and he welcomed support and sponsorship from any relevant companies in those spheres, to enhance this unique industry research project.
“Companies that partner with the Federation on this project will benefit significantly, receiving the collated market data in full, which many will find no valid and internationally comparable figures have been collected.”
