WMA and APFA unveil proposal to create trade association for UK investment management & financial advice

Together the WMA and APFA will become IMFA (Investment Management & Financial Advice Association) effective 1 June, subject to the merger being approved by the members.
The combined IMFA membership would represent UK firms offering a range of financial solutions, including investment advice and portfolio management, as well as investment and execution services, financial planning and advice for private clients.
Through the merger, both trade associations can unlock further synergies for the benefit of members by championing a wider remit for our growing community.
Both trade associations’ Boards have recommended the proposed merger, which will create a stronger voice for the Investment Management and Financial Advice industry in the UK. IMFA is expected to be financially positive on a standalone basis by the end of the first year.
Liz Field, CEO of the WMA, said that “the resulting trade association will continue to lead the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the investment advice and financial management arena.”
Chris Hannant, Director General of APFA, said that “the proposed new trade association will provide a stronger, united voice that can better lobby on behalf of the combined membership.”
The proposed merger reflects the current changing landscape, and comes at the same time as other trade association merger activity in the country’s financial services industry.