The European Federation of Financial Intermediaries and Advisers has elected new representatives to its executive council as it prepares for a “regulatory tsunami”.
Fecif has said its members face a “raft” of EU regulation which will hit the advice industry in the next 12 months.
David Charlet – the president of Anacofi, the French national association of financial advisers – has become the trade body’s new chairman, having previously been vice-chairman.
He said: “I’m very proud to be responsible once again for the representation of European financial advisers and intermediaries.
“The challenge is both exciting and huge, considering the entrance into force of many fundamental regulations next year – not least Mifid II, the IDD and Priips.
“In addition, we will also have the impact and issues with regards to Brexit, alongside a tense atmosphere around most aspects of finance, all over Europe.”
Mr Charlet has been replaced as vice-chairman by Jiri Sindelar, the chairman of USFCR, the Czech association for advisers.
Mr Sindelar has been project manager for Fecif’s research project which will result in the production of the “White Book” which will provide data on the advice market across Europe.
Paul Stanfield, a British financial adviser, was voted in for a second three-year term as the federations’ secretary general.
damian.fantato@ft.com
