Press Release

Outcome of the WMA Strategic Review Announced

12th March 2015

Following the announcement of a strategic review at the Wealth Management Association’s Annual Conference, CEO Liz Field has been undertaking an extensive programme of meetings with WMA member firms around the country to discuss the challenges and opportunities for the wealth management industry.

Firms’ responses have provided valuable input and the strategy focuses on 5 key areas:

  • Advocacy – the WMA is an advocate for the sector with governments, regulators, the media and the wider financial services community, voicing and representing the interests of its members, promoting wealth management and challenging some of the perceptions about the sector.
  • Influence – the WMA aims to influence policy and decision makers to the benefit of its members and their clients, seeking proportionality and appropriateness, educating about the industry and the unique nature of the retail investment market.
  • Research and Information – the WMA is an aggregator of research, trends and data about the industry and provides guidance, advice and information to its members and early warning systems on regulatory, market and business issues to help them with their business.
  • Thought Leadership – the WMA leads the debate on how the industry should and could respond to emerging changes, regulations and business issues.
  • Facilitation – the WMA facilitates the identification and sharing of good practice, benefiting the membership as a whole to enable them to implement good practice and learn about new thinking.

Liz Field commented:

“The WMA has a solid basis upon which to continue to grow and fulfil its purpose as the trade association for wealth management.

“Working collaboratively with members and key stakeholders is key and WMA has specialist wealth management employees as well as an active committee structure, which leverages the knowhow and expertise of the best in the membership.  It is clear, however, that the members want more from us and I am grateful to the support and enthusiasm that is shown to the WMA. The outcome of the review has identified 5 key areas as focus points for the future which will help us to deliver that.”

– Ends –

Notes for Editors

About the Wealth Management Association (WMA)

  • The Wealth Management Association (WMA) is a trade association representing 186 Wealth Management firms and Associate members.
  • 110 full members are wealth management and stockbroking firms that deal directly for over 4 million retail investors.
  • They deal in stocks and shares and other financial instruments for individuals, trusts and charities through a range of services spanning execution only, advisory and discretionary fund management.
  • 76 associate member firms provide professional services to our full member firms.
  • WMA’s aim is to ensure that business, regulatory, tax and other relevant changes across Europe are appropriate and proportionate for the investment community and their clients.
  • The WMA exists to support its members and their clients in the following ways:
    • To be an advocate for the sector with governments, regulators and the wider financial services community;
    • To influence policy and also decision makers within the wider sector to the benefit of WMA members and their clients;
    • To research and provide definitive information about the sector as required for members and in support of the influencing and advocacy objectives;
    • To be a thought leader, to lead and stimulate debate and make members aware of emerging trends; challenging and provoking change.
    • Facilitating the sharing of good practice, enabling the membership as a whole to benefit from the latest developments affecting the sector as well as providing support to enable them to develop good prescribe and overcome challenges.
  • Our member firms manage in excess of £650 billion of wealth in the UK, Ireland, Channel Islands and Isle of Man.
  • The firms operate across more than 580 sites, employing over 32 000 staff.
  • The firms also run over 5.5 million client portfolios and carry out over 20 million trades a year.

If you would like further information on this release or other press matters please contact: 

Switchboard: 020 7448 7100