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Firing Line: Liz Field

The WMA, formerly known as the Association of Private Client Investment Managers and Stockbrokers rebranded in 2013 to better reflect its membership.

This contributed to WMA’s pre-tax losses of £181,000 in the year ending 31 May 2014, up from a £33,000 loss in the previous year, according to Ms Field.

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“We do not see these losses as a negative but more of a product of opportunity,” said Ms Field. “The rebrand was necessary and now truly reflects what we are about, and we hope to use the reshaping to go on to a new place.”

The body has been vocal in its objection to the current structure of the FSCS. Ms Field said the main funders of the scheme are not often the ones that need to be bailed out. Instead, compensation levies often arise from activities by firms which do not contribute to the pot.

“We feel that the scheme is not fair at the moment. We have been liaising with the FSCS and the FCA as to what a review of the FSCS might look like.

“We are being proactive and constructive by looking at the way their model is structured, with a view to coming up with options.”

April’s forthcoming pension freedoms presents wealth managers with a range of opportunities, according to Ms Field, who added: “There are going to be a large number of individuals with a substantial pot they do not know what to do with or how to invest it. Wealth management is a long-term solution.”

Outside the office, Ms Field enjoys a simpler life in her home in Derbyshire, on the edge of the Peak District. A fan of the great outdoors, she enjoys long walks, cycling and water skiing. The wide experience of life she brings to her role can only be an asset.

Myron Jobson is features writer at Financial Adviser

Liz Field’s career ladder

September 2014-present

Wealth Management Association, chief executive

2009-2013

Financial & Legal Skills Partnership, chief executive

2010-2013

Alliance of Sector Skills Councils, trustee

2005-2010

Liz Field Consulting, founder

2002-2005

Gerrard Asset Management, Head of Organisation Development

2000-2002

Financial Services National Training Organisation, chief executive

1997-2000

Banks and Building Societies National Training Organisation, chief executive

1989-1997

Insurance Industry Training Council, chief executive

April 1982-March 1989

Kent County Council, management trainee