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Adviser trade body adds three new board members

Boardroom-Business-Chair-Executive-Corporate-700x450.jpgAdvice and wealth management trade body Pimfa has bolstered its board with three new members.

The hires come just over a year since legacy campaign groups Apfa and the WMA merged.

The three new appointments come from a range of asset management backgrounds, as Heartwood Wealth Management chief executive Tracey Davidson, Ruffer chief financial officer Myles Marmion and The Private Office chief executive Penny Lovell all take on permanent roles.

Will advisers and managers be at loggerheads in merged trade body?

Lovell says: “The UK is a global leader in investment advice and financial management. But for that position to be maintained, we as an industry must all work together.”

There have been a number of departues of both legacy Apfa and WMA staff since the merger, however, including Apfa senior policy adviser Caroline Escott, former WMA chairman Tim Ingram, and former Rathbone’s chief executive Andy Pomfret.

Pimfa has reaffirmed its position on a number of issues since the merger, including coming out against a contingent charging ban and warning over the impact of a no-deal Brexit on the investment community.

It has also been critical of Priips Key Information Documents, as well as calling for discretionary fund managers to not be included in a new Financial Services Compensation Scheme levy.

However, it has not been as clear over whether it will continue Apfa’s campaign for the introduction of a longstop on Financial Ombudsman Service complaints after the FCA dismissed the idea as part of its recent review of FSCS funding.

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