The CISI's closest trade association, the Wealth Management Association (WMA), together with the Association of Professional Financial Advisers (APFA) became the Personal Investment Management & Financial Advice Association (PIMFA) on 1 June 2017
Announcement by CEO of the WMA, Liz Field
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“I am delighted to announce that WMA members have overwhelmingly voted, with no votes against, to approve the proposed change in rules, as well as the name change of the resulting trade association to PIMFA, following the merger with APFA on 1 June 2017.
“APFA members already unanimously approved the merger at an EGM held on 23 May 2017.
“PIMFA will be the voice of firms that provide a range of financial solutions including investment advice, private banking, discretionary and advisory portfolio management, as well investment in execution only services and financial planning and advice in the UK, to the private individual, families, charities and trusts.
"Through the new trade association, we will have a stronger, united voice that will lobby for the combined membership, while helping lead the debate and guiding regulation as the UK seeks to promote its Personal Investment Management & Financial Advice industry as a key player in the global arena.”