FECIF - The European Federation of Financial Advisers and Financial Intermediaries
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  • SAVE THE DATE // 10/DEC/2015 // SAVE THE DATE
  • 2nd EUROPEAN FINANCIAL CONFERENCE 2015
  • 10 DECEMBER 2015 // BRUSSELS, BELGIUM
  • »SOCIAL WELFARE IN TIMES OF ECONOMIC STAGNATION:«
  • Can smart regulation stimulate private pensions?
  • 10th DECEMBER 2015 // Renaissance Hotel, BRUSSELS (BE)
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FECIF Programme de travail 2016-2017 (FR)

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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.

 

 

See photos from the FECIF conference 2015

 

 

 

John WestwoodPaul Stanfield
Chief Executive at FEIFA / FECIF Secretary General

Robo-advice financially unviable

The above was the main content of an article in a financial industry publication last month. This was based on a recent study, which found that UK robo-advisers are structured in such a way that they will lose money and “most will go bust before acquiring the sizeable assets under management needed to survive”.

Food for thought, not least for regulators – many of whom seem to think that so-called “robo-advice” is the silver bullet to solve all of the main issues of providing and delivering advice, and – most specifically – filling the advice gap. There will no doubt be arguments either way as to the financial validity of automated services, but this research should at least raise questions that all market stakeholders want to see answered.

The report, produced by SCM and entitled Fintech Folly, confirmed that fees for automated advice on a £25,000 portfolio ranged from around 0.3% to 0.94% per annum, with an average cost of 0.59%. It would appear that this is insufficient, in most cases, to even come close to generating profit. As a result “one well known UK robo-advisory firm has reported spending a little over £9 for £1 of revenue”. The average client would apparently have to be invested for nearly 11 years for the firm to break even – despite research indicating that the current average period is only 3 years...
 

 

  
 

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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Fédération Européenne des Conseils et Intermédiaires Financiers (FECIF)
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