The European Financial Planning Association (EFPA) of Spain has signed an agreement to become a member of trade body the European Federation of Financial Advisers (Fecif).
Both organisations will work together to develop best practice outcomes in the independent financial advice and intermediary space across Europe, according to a press release on Efpa Spain’s local language website.
Fecif secretary general Paul Stanfield told International Adviser: “In keeping with our other memberships, there is a complementary fit between Efpa Spain and Fecif.
“The former is an independent entity focused on professional certification, bringing together professionals dedicated to advice and financial planning in Spain.
“Fecif is a pan-European trade association, concentrated very much on advocacy for the advice sector and delivering representation for advisers and intermediaries across Europe.
“We will be able to extend Efpa Spain’s ability to communicate with key European stakeholders such as Esma (European Securities and Markets Authority) and Eiopa (European Insurance and Occupational Pensions Authority), and also relevant MEPs, whilst representing its views, along with the rest of our membership, to all relevant EU consultations.”
Brussels-based Fecif was set up 20 years ago to defend and promote the role of financial advisers and intermediaries in Europe.
Following Spain
In May, IA reported that Efpa Europe’s president, Emanuele Carluccio, was looking to push Italy towards Efpa Spain’s model of obtaining independent adviser certificates.
Italy, along with Spain, is among the first regional associations to allow Efpa to branch out at European level, but it has lagged behind its Iberian neighbour in adopting independent certifications.
Spain currently has just over 27,000 Efpa-certification holders, compared to Italy with about 6,000.
