Deputy Chairman of FECIF
Unique Research: In the first two years of the FECIF Expertise initiative, what have we learned so far?
It has been two years, since FECIF started its Expertise initiative, a huge push for greater and better knowledge about the pan-European financial advice and intermediation sector. Since I have been honoured to chair the whole project among FECIF board members, I feel it is a good time to balance our first steps a little bit. And, of course, summarise, what have we learned.
So, what has been done during those two years? First and predominantly, our White book (WB) research project, the first comprehensive data-driven overview of the European advice industry, was completed. It was a tremendous challenge, given the fact that there is no valid and complex database on our sector. Then in 2017, regular biannual surveys among our members commenced, yielding two very interesting areas of knowledge so far. This will continue with our second survey of 2018, which is already underway, whilst the next iteration of the WB is scheduled to take place in 2019.
What about our results? More than anything else, we have found that the advice and intermediation industry is highly heterogeneous across Europe. Take for example the composition of a typical adviser´s product portfolio. Whilst in the West, his or her work is mostly about investments...