Nigeria: Investment Advisers Seek Complementary Policies to Support Economic Growth

20 November 2019

Judith Obaze

Investment and portfolio management experts in the country have called on the federal government to always provide complementary policies that will in improve ease of doing business and lead to economic growth.

The President, of the Association of Investment Advisers and Portfolio Managers (IAPM), Mr. Abimbola Olashore, stated this recently, at the official signing ceremony of a memorandum of understanding (MoU), with Chartered Institute for Securities and Investment (CISI), United Kingdom (UK).

"Government policies should be targeted at creating employment and providing complementary policies that would allow businesses to survive. This would reduce the impact of some government hash policies that do not recognise the high cost of doing business, infrastructural deficit and unemployment rate in the country," he said.

On the MoU, he said it was part of an effort of the association to further instill and entrench professionalism into the practice within the industry.

"By this partnership, IAPM will be able to serve as an Accredited Training Partner (ATP) for all the stages of the CISI in addition to having exclusive ATP for the CISI's chartered wealth management, the pinnacle wealth management qualification offered by CISI. It is therefore, a perfect partnership of two institutions from different geographical location and market experiences with similar mission and focus to promote common interest in providing quality professional knowledge/qualifications of international standard to Nigeria financial market operators," he explained.

He said the IAMP was committed to protecting investments by equipping its members and the investment community with requisite knowledge and discipline to provide professional and sound investment advisory to organisation.

According to him, upping the ethical standard of IAMP members would prevent unwholesome conducts and practices by other service providers and ensure that services provided by portfolio managers are devoid of conflicts and abuse.

Commenting on the partnership, the representative of the CISI, Mr. Praneet Shivaprasad, said it affords both associations the opportunity to grow the industry in the country.

"Today's signing provides us the opportunity to deepen financial literacy as a fundamental skill set and to aggregate set of professionals in the industry and open the opportunity of advocacy for the role of investment advisers," he noted.

By this partnership, IAPM will be able to serve as an Accredited Training Partner (ATP) for all the stages of the Chartered Institute for Securities and Investment in addition to having exclusive ATP for the CISI's Chartered wealth management, the pinnacle wealth management qualification offered by CISI.

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