Posted on by Sheena Gillett

Press Release

WMA responds to Brexit vote

24th June 2016

Following the referendum result to leave the European Union (EU), the Wealth Management Association (WMA) said:

“This decision obviously has significant implications for the country and there will now be a prolonged period of uncertainty as the government responds to the public vote.

It is important that there is a focus on long term investment ensuring the continued success and stability of the UK’s £734 billion wealth management community for the country and its clients.

WMA will be working with our member firms to assist them to meet the challenges that will arise from the referendum result.

During the time in which our new relationship with the EU is being determined our member firms will still be subject to both UK and EU law and we will continue to work closely with both UK and EU authorities, regulators and government.

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Notes for Editors

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About the Wealth Management Association (WMA)

  • The Wealth Management Association (WMA) is a trade association that represents wealth management firms (full members) and associate members who provide professional services to our full member firms.
  • WMA members firms look after over £734 billion of wealth for over 4 million retail investors.
  • WMA full members deal in stocks, shares and other financial instruments for individuals, trusts and charities through a range of services spanning execution only, advisory and discretionary fund management.
  • 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.
  • WMA firms operate across more than 580 sites, employing over 32,000 staff.
  • These firms also run over 5.5 million client portfolios and carry out over 20 million trades a year.

www.thewma.co.uk

@WMA_UK

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