The Association of Private Client Investment Managers and Stockbrokers, the trade group with 178 firms of which 114 members are wealth management and stockbroking firms, will re-brand as the Wealth Management Association, after members voted in favour of the proposal.

APCIMS adopted the move at its annual meeting yesterday.

The move comes at a time when industry organisations remain numerous, reflecting the constant shifts in the financial services sector; the re-brand of APCIMS also highlights how the profile of wealth management as a distinct business area has risen. The UK’s new financial watchdog, the Financial Conduct Authority, now has a wealth management unit. (To view a recent comment on such trade associations, click here.)