FEIFA sees international adviser firms membership spurt as regulation bites
The Federation of European Independent Financial Advisers (FEIFA) has seen a growth in number of firms joining its ranks, with advice and support surrounding regulatory changes needed, particularly in the international expat arena.
FEIFA said that it has added three further companies across the last few weeks as members of the trade association, with a Cypriot financial adviser firm and a UK international expat advisory specialist added.
The Woodbrook Group, Churchgate Accountants and Omega Financial Solutions have all joined its ranks in the last few weeks, FEIFA said in a statement.
Woodbrook is based in Cyprus and has 15 advisers and operates in a number of mainland European countries, while Churchgates FCA-regulated and is based in Suffolk, working in combination with accountants, solicitors and investment managers, all under one roof.
Omega is also an FCA-regulated firm, located in the north west of England but often working with international advisers, not least with regards to pension advice for expatriates, FEIFA said.
FEIFA chief executive Paul Stanfield said that the organisation is seeing a particular growth spurt as regulation begins to bite across the globe.
“Only recently we were announcing that FEIFA had more member firms than ever before and we have already seen further growth since then,” Stanfield said. “Another new membership peak has therefore been reached and we are understandably very pleased with this progress.
“Allied to this we are experiencing an increasing desire from advisers to be represented and also a growing need to be supported and assisted with regards to expat and international business.
“Representation and support of the advisory sector is arguably more important than ever before and our membership growth would suggest that the sector is increasingly realising that fact.”
FEIFA member companies are English-speaking advisory businesses, active across Europe and advising on cumulative assets in excess of €4bn. The Federation is a non-profit trade association and its membership operates in around 35 European countries as well as, in some cases, other regions of the world.
The trade body also has affiliations with a wide range of companies, including major asset managers, international life companies, and a number of international pension and trust companies.