The Association of Private Client Investment Managers and Stockbrokers is looking to rebrand as the Wealth Management Association.
The trade body says the rebrand has been proposed to “better reflect the services its members offer” and will be voted on at its annual general meeting on 1 October.
It says the name change is required to reflect that its membership has widened to include private banks, discretionary fund managers and other financial firms who undertake wealth management activities.
Apcims says it has commissioned independent research with its membership over the name change. It has already secured certification for a new trademark and the name Wealth Management Association.
Apcims chief executive Tim May says: “The member research undertaken for us earlier this year showed a clear desire to change the way in which Apcims is presented and perceived. This proposed move answers general industry developments and the recent changes at the FCA with the launch of its wealth management and private banking unit.
“We are changing our name, but not what we do. We will continue to represent the investment community across the spectrum from execution-only services through to advice and discretionary fund management.”
Apcims represents 178 firms, of which 114 are wealth management and stockbroking firms. The remainder of Apcims firms are associate members who provide professional services to member firms.