ATSG, a third-party fund distributer, said it is looking to focus its attention outside of Europe, setting its sights on the Middle East and Asia. It declined to give any further comment.
The programme was launched by the Federation of European Independent Financial Advisers (FEIFA) in 2010 to offer IFA members information about products and services. It also gives companies the chance to promote products.
Speaking to International Adviser, FEIFA chief executive Paul Stanfield said the renewal rate on the partnership programme is “very high” and for various reasons some companies don’t always stay affiliated.
He said a change of strategy, such as the firm no longer targeting IFAs or focusing outside of Europe, can often be the reason companies drop off the list. He also said motives for leaving the programme can revolve around a lack of resource, with some companies being unable to sufficiently support the FEIFA membership.
“Often these affiliations cease based on communications between us and the partner company, that is, it tends to be something of a mutual decision,” Stanfield said.