The Association of International Life Offices (AILO) has confirmed that the European Federation of Financial Advisers and Financial Intermediaries (FECIF) and the Federation of European International Financial Advisers (FEIFA) are its latest affiliate members.
Bob Pain, AILO's CEO, said: "I am delighted that our organisations have cemented our long-standing connection and I look forward to working with members of FECIF and FEIFA for the mutual benefit of our industry. It will be especially helpful to get the distributors' perspectives on issues that affect us all."
Paul Stanfield, secretary-general at FECIF and chief executive of FEIFA, added: "Both FEIFA and FECIF have worked closely with AILO where relevant for some time, so this now confirms and builds on that relationship. I think it is important for all stakeholders to work together, not least in an increasingly regulated environment, to ensure that cost-effective and highly professional advice can be delivered to as many people as possible.
"We look forward to working further with AILO, especially in areas of professional development and training, where possible."
AILO has been the main trade body for the cross-border insurance industry since 1987. AILO's Member companies offer multi-currency, tax-efficient life assurance products aimed at the international policyholder and medium to high net worth clients whose needs cannot be fully met by their domestic providers. AILO aims to promote the cross-border life industry and to encourage professionalism and high standards amongst its members through the provision of market, regulatory and taxation information.
Brussels-based FECIF was chartered in June 1999 for the defence and promotion of the role of financial advisers and intermediaries in Europe. It is the only European body representing European financial advisers and intermediaries.
FEIFA is a trade association that represents English-speaking Financial Advisers operating throughout mainland Europe. FEIFA represents the adviser community across Europe, representing the sector with financial institutions and, where necessary, with government and regulatory bodies.