10th DECEMBER 2015 // Renaissance Hotel, BRUSSELS (BE)
The last conference was held in Brussels in December 2015 under the title “Social Welfare in Times of Economic Stagnation: Can smart regulation stimulate private pensions?” and was attended by all major stakeholders; including regulators, politicians, consumer groups, the national trade associations of countless European countries, and advisory practitioners.
Vania Franceschelli FECIF Board Member & ANASF Executive Committee Member
We need new market propositions not unnecessary bans
The final date for the transposition of MiFID II in each Member State – January 3rd 2018 – is fast approaching. Is it possible to see some initial insights into the industry, in order to foresee the impact of the Directive on business models? In particular, the Directive entails a Hamlet-style dilemma: independent or non-independent investment advice?
Let’s take the case of Italy. This crucial question was discussed during ConsulenTia, the convention organized by Anasf in Rome each February. Over 2,500 professionals (mainly financial advisors) attended ConsulenTia 17, where the main issues debated was MiFID II. During the ensuing round table session, the CEOs of the main national intermediaries that specialise in the provision of financial advisory services clearly stated their position; Italian banks, investment firms and insurance companies intend to keep their traditional business models, i.e. commission-based remuneration and the provision of advice on a non-independent basis.
No news, good news? Absolutely not...
The European Federation of Financial Advisers and Financial Intermediaries (FECIF) was chartered in June 1999 for the defence and promotion of the role of financial advisers and intermediaries in Europe.
FECIF, the only body representing European financial advisers and intermediaries, it is based in Brussels, the heart of Europe.
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