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Apcims set for rebrand to reflect wealth firms' evolution
by James Phillipps on Sep 12, 2013 at 12:35
The Association of Private Client Investment Managers and Stockbrokers (Apcims) is to change its name to the Wealth Management Association (WMA).
The proposal will be put to a vote at the trade body’s annual general meeting on October 1.
Chief executive Tim May said the Apcims name reflected the firm’s historic membership and the new moniker will provide a clearer message to both the industry and the four million end consumers that its members serve.
‘We’ve had the name for a long time and it reflected the jobs our members did. Initially we had stockbrokers and one investment manager and we now have a much more diverse membership, including a lot of private banks,’ May said.
‘The Financial Conduct Authority has set up its own wealth management and private client group and we feel this will help to align with that.’
He added that members he has spoken to have been positive on the change and assuming the new name is confirmed, it will go live on October 8. Apcims took out a trademark on the name ‘several months ago’.
May said the trade body’s recent work has included an update on suitability and a Q&A on Fatca.
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