"The coming together of APFA and the WMA creates a relevant, joined-up trade association which can both support its members across the wider client value proposition"
The two bodies first announced their intention to merge last month to become the Investment Management & Financial Advice Association.
The association updated its name after feedback to create the acronym PIMFA as well as emphasising the nature of the services offered by the united member base.
PIMFA members will provide a range of financial solutions for individuals and families, charities and pension funds; including investment advice and portfolio management, as well as investment and execution services, financial planning and advice.
WMA’s CEO, Liz Field, said: “Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
“We will expand our value-added advocacy and technical research work, and remain committed to creating an optimal operating environment so firms can focus on delivering the best services for clients."
Chris Hannant, APFA’s Director General, added: “Through PIMFA, the combined experience of the WMA and APFA will create a stronger, united voice that will provide a more effective voice for the membership to deliver change."
PIMFA’s incoming Chairman Lord Deben, commented: “The coming together of APFA and the WMA creates a relevant, joined-up trade association which can both support its members across the wider client value proposition and speak with coherence and authority to both government and the regulators for this significant part of the financial services industry, which has both high added value and high social impact."
