“I am looking forward to the challenges ahead, particularly as the UK faces the prospect of Brexit and all the change that this may bring about for the financial services sector. FEIFA exists to benefit members and consumers alike, and aims to ensure both are protected under the stringent legal and regulatory framework in place for our industry. As the UK’s withdrawal from the EU goes ahead, IFAs will be at the forefront in ensuring consumers financial dealings are secure,” John says.
FEIFA was set up in the wake of the global economic downturn which commenced in 2007. The organisation’s main aims are to bring the highest standards of professionalism to bear on an industry which has, at times, suffered in the wake of regrettable actions from a minority of individuals.
As a result, FEIFA only accepts IFAs and financial services companies following a formal and rigorous vetting and due diligence procedure which assures consumers that its members uphold legal and regulatory requirements in all day-to-day activities.
Paul Stanfield, Chief Executive of FEIFA commented “John has brought a wealth of industry and advisory sector experience to our Board in recent times and I am personally very pleased that he will be our new Chairman. Following the Brexit vote we will no doubt see significant change in our world over the next 12 months and beyond. FEIFA will ensure that our members are kept fully informed and advised during the whole process, and John’s know-how will be invaluable in this, I am sure”.
As the founder and Group Managing Director of Blacktower, John Westwood has more than 30 years’ experience in the financial services sector and has built up one of the longest standing wealth management companies in the UK, EU, and the Caribbean, and has provided a wide infrastructure which enables expats access to trusted advice on all manner of financial decisions, from pensions and tax solutions to equity investments.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
One key concern Gibraltarians have about Brexit negotiations is sovereignty, and whether Britain will offer the Rock to Spain in order to get a better deal. With plans still being kept very vague by the British government at this early time, many fear it is a strong possibility.
Readers may remember the pension freedoms announced by George Osborne in 2014. These became effective on April the 6th this year. The fanfare accompanying the announcement and indeed subsequently is often set against the backdrop of pensioners sat in Daimlers or on Yachts having drawn all their money out and lavished it on some frivolous purchase.