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Trade body merger takes a step closer

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The merger of The Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) took a step closer yesterday.

At an EGM, APFA members voted unanimously to pass the resolution allowing the merger.

WMA members get their chance to vote at their own AGM on 31 May, 2017.

If that vote also brings in a yes, the Investment Management & Financial Advice Association (IMFA) will start work on 1 June.

Taking on the helm of the IMFA will be Liz Field who currently heads up the WMA. The Director General at APFA, Chris Hannant, will leave once the merger goes ahead.

IMFA will cover a wider range of activities within the industry including investment advice, portfolio management, investment and executive services, and financial planning.