WMA JOURNAL Issue 4 Autumn 2015
In this issue
Defence against Cybercrime The changing face of research 25 facts celebrating 25 years of the WMA Industry Statistics The importance of implementing a robust policy management programme
Issue 4 Autumn 2015
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25 Facts Celebrating 25 Years: 1990–2015 1
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In 1991, there were 3.3 million trades in the UK by full service wealth manager firms; in 2014 there were 6.43 million
In 1991, there were 3.7 million execution only trades in the UK; in 2014 there were 17.04 million
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In 1994, APCIMS’ membership was expanded from only private client investment managers and stockbrokers to also including portfolio management firms whose clients are predominantly private investors
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The association has been campaigning to the Chancellor for the removal of stamp duty on share trades since 1994
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The FTSE WMA Growth, Income and Balanced Indices were launched in 1997
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In 1999, only 83% of APCIMS members had a website; today all WMA members have a website
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In 1998, APCIMS firms employed more than 12,000 people; today WMA firms employ about 30,000 staff
APCIMS/WMA launched the online “find a broker or wealth manager” facility in 1996, which still exists today In 1998, the year online trading launched, there were 7 million online trades in the UK; in 2013 there were over 10.5 million
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APCIMS/WMA has had an Annual Conference every year for the last 18 years
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APCIMS/WMA merged with the European Association of Securities Dealers (EASD) in 2002, and remained a joint association until 2008
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In 2003, APCIMS/WMA member firms had £240 billion of client assets under management or administration; this figure is now over £670 billion
12 @WMA_UK
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In 2003, APCIMS responded to 21 consultations; in 2014, WMA responded to 25 consultations
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APCIMS was rebranded as Wealth Management Association (WMA) in 2013
The FTSE WMA Conser vative and Global Growth Indices were launched in 2012
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Wider Share Ownership Council (WSOC) launched in 2014
PCIMS/ 17 AWMA has had 6 Chairmen in its 25 year history
PCIMS/ The longest serving 18 AWMA 19 has CEO was Angela Knight, 20 had 6 CEOs in its 25 year history
who was CEO for over 9 years (1997-2006)
APCIMS/WMA have always operated on a strong committee structure since inception in 1990
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The WMA is currently supported by more than 250 committee and advisory board members
Regulation has consistently been stated as one of the biggest concerns facing APCIMS/ WMA members
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WMA staff visit key influencers in Europe at least once a month, and have been working with EU regulators and policymakers since inception
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APCIMS/ WMA has regularly produced a directory of its members since inception in 1990
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W M A member firms operate from over 580 sites in the UK, Ireland, Isle of Man, Channel Islands and international locations Issue 4 Autumn 2015
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WMA 25th Anniversary Drinks Reception WMA welcomed over 300 guests to help celebrate its 25th anniversary held at the Paternoster Chop House, just steps from the London Stock Exchange from which the embryonic WMA emerged. The event brought together prominent guests including member firms, members of parliament, MEPs, media, regulators, government officials and other key industry figures. WMA CEO Liz Field started proceedings by discussing how for the last 25 years, the WMA has been working to ensure that political business and regulatory changes are appropriate and reflective of the needs of its members firms and through them the needs of the private investor. Guests then had a look back over the quarter century with a video showing WMA’s journey so far and heard from the first Chairman of APCIMS/WMA John Cobb and also its longest standing Chief Executive, Angela Knight. Paul Killik, Senior Partner at a member firm and a WMA board member then highlighted some of the key changes and developments in the wealth management industry over the last 25 years with fascinating insights from an individual who has been involved with APCIMS/WMA since the organisation began.
WMA welcomed over 300 guests to help celebrate its 25th anniversary held at the Paternoster Chop House, just steps from the London Stock Exchange from which the embryonic WMA emerged. The event brought together prominent guests including member firms, members of parliament, MEPs, media, regulators, government officials and other key industry figures. WMA CEO Liz Field started proceedings by discussing how for the last 25 years, the WMA has been working to ensure that political business and regulatory changes are appropriate and reflective of the needs of its members firms and through them the needs of the private investor. Guests then had a look back over the quarter century with a video showing WMA’s journey so far and heard from the first Chairman of APCIMS/WMA John Cobb and also its longest standing Chief Executive, Angela Knight. Paul Killik, Senior Partner at a member firm and a WMA board member then highlighted some of the key changes and developments in the wealth management industry over the last 25 years with fascinating insights from an individual who has been involved with APCIMS/WMA since the organisation began.
14 @WMA_UK
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