A professional association has been formed for IFAs, financial planners and wealth managers establishing their own Oeics.
The Investment Funds Association will bring together intermediary groups that, having developed their own funds, choose to outsource the investment management or establish a full discretionary service with their clients and manage the funds internally.
Founder members include the IFAlliance, Anthony Harding & Partners Limited and the Fry Group. The IFA will share best practice, act as a lobby group and present a united voice to investment managers, life companies and the regulator.
Andrew Perkins, chairman of the association and managing director of the IFAlliance said: "This is a new model and one that is all about choice for the investor, therefore one of the things we want to achieve as an association is to promote a wide understanding of the benefits offered to the client.
"As like-minded businesses we also appreciate the universal benefit of a single voice in dealings with the FSA, investment managers, life companies and other IFAs and wealth managers."
Members of the association will sign up to a charter that includes a business code of practice. "It is particularly important that the association should quickly become the centre of excellence for the distributor Oeic market in the UK, requiring of its members high standards of integrity, best practice and TCF, believing that these standards are ultimately for the direct benefit of investors," added Harding.
The Investment Fund Association's first general meeting will be held in London in early 2009.
You've got it in one. Couldn't have put it btteer.
You've got it in one. Couldn't have put it btteer.
Posted by: Patch
24 Sep 2011 | 07:06
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