The European Federation of Financial Advisors and Intermediaries (FECIF) has said it will conduct the first ever survey of the European financial advice industry.
The project, to be carried out jointly with Nice University, will collect data on the number of intermediaries in Europe; their sales turnover, number of contracts and products intermediated; the advisory workforce in Europe and in each member state; and assets under advice.
Work will begin this month, and the survey is expected to be completed by September. FECIF said it hopes to repeat the process regularly, potentially on an annual basis “if resources allow”.
FECIF secretary general Paul Stanfield said the compendium would be of use to asset managers, investment houses, insurance companies, IT businesses, lawyers, and accountants.
“Companies that partner with the Federation on this project will benefit significantly, receiving the collated market data in full, which many will find highly valuable whether they wish to work on a single country basis or conduct cross-border business in Europe,” he said.
He said partnering companies would be quoted as official sponsors in the final report.
FECIF is the industry body for financial advisers and intermediaries based in the European Union and Switzerland. Its headquarters are in Brussels.