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European IFA trade body tries to boost UK membership

European IFA trade body tries to boost UK membership

The Federation of European IFAs (FEIFA) has launched a new associate membership for £500 a year.

Last year FEIFA launched a specific membership for UK financial advisers and has now created an associate membership allowing advisers in this country to team up with their European counterparts.

Paul Stanfield, chief executive of FEIFA, said an increasing number of people live cross-border lives and these individuals tend to have very complicated financial affairs and needs. 

He said this new type of membership was the next logical step in further aiding professional collaboration, ultimately for the benefit of clients.

Mr Stanfield said: "Being an expert with regards to regulatory requirements, tax implications, compliant products and what I would call 'local knowledge' is difficult enough in one country. It can be impossible across national boundaries.

"We have seen – and, in fact, been encouraging - a growing trend of professionals working together to assist such clients in the most thorough and expert manner. 

"Financial advisers from one country working with advisers, solicitors, accountants and tax experts in another.

"This is particularly relevant with regards to UK professionals and our member IFAs across mainland Europe.

"Our associate membership creates a formal framework for this to work more effectively, and provide an environment in which the most appropriate, tailored and wide-ranging advice can be delivered."

Associate memberships will be limited in number and availability.

An entry on the FEIFA website will be provided for associate members, with a direct link to the associate’s website or to a micro-site.

Associates are also able to submit up to two articles a year, where relevant, to the FEIFA members’ monthly e-magazine, while details of the affiliation will be included in the trade body’s next press release.

Places are also made available to associate members at FEIFA's annual spring conference and regular masterclass seminars.

emma.hughes@ft.com