Supporting growth and empowering people to manage their financial futures
15th May 2015
Liz Field, CEO of the Wealth Management Association, comments: “The news that UK families now have a combined wealth of more than £9trn is a positive sign of the country’s improving economy filtering down to individuals and families. However, the stark contrast between the nation’s very richest and poorest 20 per cent demonstrates that more must be done to create a culture of savings and wealth creation that includes people from all walks of life.”
“Earlier research from the National Savings and Investments (NS&I) revealed that the percentage of wages going into savings accounts is now the highest since 2004, so it is clear that putting money aside is a high priority for most.
“The next step is to educate savers across all walks of life on how they can begin investing to grow their wealth in order to achieve their long-term goals in life – investing in company IPOs and stocks and shares ISAs are examples of how people can invest in the long term to grow their savings.
“The Wealth Management Association are eager to see a cultural shift that will create better awareness and access to financial options, which will empower people to manage their financial future and will help the nation grow.”
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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 £670 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.
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