Who We Are
The WMA membership consists of two groups - full members who are wealth management and stockbroking firms that deal directly for the private investor and associate members who provide professional services to our member firms. If you buy or sell securities at any time, you are likely to deal with a firm that is a member of the WMA.
Today WMA members reach over 2.2 million investors, manage in excess of £825 billion of the country's wealth, carry out over 20 million trades a year and operate in over 600 branches across the UK, Ireland, the Channel Islands and the Isle of Man.
The Wealth Management Association (WMA) was created as a trade association in 1990 out of the London Stock Exchange and was originally called the Association of Private Client Investment Managers and Stockbrokers (APCIMS).
APCIMS mission was set to represent the interests of stockbroking firms which specialised in providing services for individual investors balancing the powerful influence of major investing institutions. From around 1994 the membership was extended to include more investment managers who, like stockbrokers, deal in, advise on, or manage direct investment in individual securities for personal and other non-institutional investors.
On 1st October 2013 the APCIMS membership voted in favour of re-branding their association as the Wealth Management Association (WMA) as a better representation of what they do rather who they are. As WMA the organisation continues to represent the whole investment community across the spectrum from Execution Only service through to Advice and Discretion.
The core functions of the organisation remain the same and WMA continues to act in the best interests of our members, in the same way that wealth managers across the country act in the best interests of their clients.
- Advocacy - the WMA is an advocate for the sector with governments, regulators, the media and the wider financial services community, voicing and representing the interests of its members, promoting wealth management and challenging some of the perceptions about the sector.
- Influence - the WMA aims to influence policy and decision makers to the benefit of its members and their clients, seeking proportionality and appropriateness, educating about the industry and the unique nature of the retail investment market.
- Research and Information - the WMA is an aggregator of research, trends and data about the industry and provides guidance, advice and information to its members and early warning systems on regulatory, market and business issues to help them with their business.
- Thought Leadership - the WMA leads the debate on how the industry should and could respond to emerging changes, regulations and business issues.
- Facilitation - the WMA facilitates the identification and sharing of good practice, benefiting the membership as a whole to enable them to implement good practice and learn about new thinking.
What We Do
The WMA liaises between other bodies such as regulators and our member firms and seeks to ensure that changes from the UK and Europe are appropriate and proportionate for the investment community and their clients.
- The WMA is proud to have working relationships with the following organisations:
- Auditing Practices Board
- Chartered Institute for Securities & Investment (CISI)
- Euroclear UK & Ireland (EUI, 'Crest')
- European Banking Authority (EBA)
- European Commission
- European Parliament
- European Securities & Markets Authority (ESMA)
- Financial Ombudsman Service (FOS)
- Financial Reporting Council (FRC)
- Financial Conduct Authority (FCA)
- Financial Services Compensation Scheme (FSCS)
- Guernsey Financial Services Commission
- HM Treasury (HMT)
- HM Revenue & Customs (HMRC)
- Isle of Man Financial Supervision Commission
- Jersey Financial Services Commission
- Joint Money Laundering Steering Group (JMLSG)
- London Stock Exchange (LSE)
- London Clearing House (LCH)
- Office of Fair Trading (OFT)
- Takeover Panel
- Various other UK & European trade associations