Posted on by Matthew West

17 October 2022

PIMFA welcomes Chancellor’s intervention to bring stability and confidence back to UK financial markets

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed the Chancellor of the Exchequer’s intervention this morning, reversing many of his predecessor’s tax proposals, endeavouring to restore stability and confidence to financial markets regarding UK economic policy.

Liz Field, Chief executive of PIMFA, commented: “We welcome the Chancellor’s endeavours to bring stability – and return confidence – to the financial markets, which pension savers and investors rely on to secure their financial future. There are still issues to resolve, not least of which is the rate of inflation and its impact on the overall economy and on interest rates. But the Chancellor appears to have acknowledged these issues and shown a commitment to restoring the Government’s economic credibility.”

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NOTES TO EDITORS

About PIMFA – the Personal Investment Management & Financial Advice Association

  • PIMFA is the trade association for firms that provide wealth management, investment services and the investment and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
  • The sector currently looks after £1.65 trillion in private savings and investments and employs over 63,000 people.
  • PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families to charities and pension funds, all the way to trusts and companies.  Associate members provide professional services to the PIMFA community.
  • PIMFA  leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. 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.
  • PIMFA has made numerous recommendations to the FCA regarding the Future of Advice, the Future of Supervision and the FSCS levy – read more.
  • PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
  • Further information can be found at pimfa.co.uk

Contact

For further information on this release or other press matters please contact:

Matthew West, PIMFA PR Manager – MatthewW@pimfa.co.uk, +44 (0)20 7382 0376 / +44 (0) 7843 903258

Sheena Gillett, PIMFA Communications & PR Director – sheenag@pimfa.co.uk, +44 (0)20 7011 9869 /

Tags:
Chancellor
Government
mini Budget