FECIF - The European Federation of Financial Advisers and Financial Intermediaries

Editorial - July 2014

FECIF Chairman

For my first editorial as President of FECIF, I would like to thank every member of the Board, the General Assembly and the Staff.

I would also express a special thought for Daniel Nicolaes, one of the best representatives of our profession in Europe, who disappeared a few months ago.

Obviously, and in the name of the full Board and Committee, I have to congratulate Vincent Derudder, our past President, who did a great job over the past 10 years. He remains alongside the Board as President of the Consultative Committee.

FECIF is born from the will of people from many European countries. The full Board and, moreover, the Executive has to be representative of Europe. By the way, the present Executive Board is composed of 4 people from 4 different countries:  England, Austria, Cyprus and France. The other members of the Board come from 5 other countries and all members are from almost more than 20 countries.

At this time FECIF has to face two main issues:

First of all, we had to define the new internal rules and how every internal organ and individuals will work together. This job was done during the past 2 months.

The second issue is the most difficult in my opinion. Never before, and perhaps never in our future, will we be so endangered. We are struggling for the survival of our enterprises, jobs and for the right to advise, in the right manner, the maximum number of consumers and savers. We have never before had so many battles of such an importance.

At the same time we are answering Consultations about finance, insurance, conflicts of interest, sparing products, on what could be new professions, etc …

To be honest, the number of these is not the main difficulty; it is that the politicians and our new European Authorities need to hear what we have to express, not to refute it systematically and, at the end of the day, to realize that we are not swindlers. And what is incredible is that, despite the fact that we are the representatives of the people who are in charge, it is not easy to make simple things understandable to people who are absolutely sure that they have the best ideas on each topic, especially the ones we are concerned about.

For the first time, we have a very poor real appreciation from the functionaries and some European politicians.

It means more and more activity and work for us. During this summer, by the way, we’ll have to send many propositions and analyses to several regulators, MEPs and to the European Commission. I hope and guess that we’ll find the right words and the best arguments in the name of our members and clients for a better Europe, respectful of individuals and enterprises.

Have a nice summer.

FECIF Chairman

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