REBRANDING OF APFIM
EDUCATION AND TRAINING
The Association’s mission is to protect investments by equipping its members and the investment community with requisite professional training and discipline to enable them provide professional and sound investment management and financial advisory to investors under the highest ethical standards, devoid of conflicts and abuse, thereby preventing unwholesome conducts and practices by unscrupulous service providers; and in furtherance of this mission IAPM over the years have conducted hundreds of training courses, workshops, seminars and certificated programmes of international standards, which has been well patronised by participants across the financial and non-financial industry and the public sector.
IAPM OBJECTIVES
The objects for which the IAPM was formed are:
- Promotion of professionalism, high standards of integrity, public responsibility, and competence among members in the investment advisory profession regarding the investment and wealth management industry through a robust financial planning activities and processes.
- Propagate global standard financial planning and investment management education and practices in our domestic industry through robust training programmes.
- Self-regulate duly registered practitioners through structure and practice standard requirements, provide benefits, services, and products that will assist and add value to member firms in their course of doing business.
- Create the appropriate forum for further protecting the direct interests of all investors in the financial market through training and retraining of financial market operators.
- Establish the appropriate structure or platform through which professional recognition will be given to deserving members in terms of certification and other relevant endorsements.
- Collaborate with other professional bodies and government institutions in developing the practice of all-round professional investment and wealth management in Nigeria.
- Carry on all other relevant functions in the financial industry to ensure adequate protection of investor clients and their hard-earned moneys.
GOVERNANCE STRUCTURE
To continue the development of the Association to a world class body representing all sectors of the financial industry, the Council of the association was enlarged to accommodate professionals in all fields of the financial industry. This has hastened the transformation of the Association into a more influential organisation well recognised both locally and internationally.
Over the years the Association has benefited immensely from the astute and selfless contributions of its Council members and executive officers , past and present Presidents; amongst who were Late. Dr. Gamaliel O. Onosode OFR; founding President (1981-2001); Chief (Dr.) Ajibola Ogunshola (2001-2003) former Chairman of Punch Newspapers and Chairman Continental Reinsurance Plc; Late Mr. Felix A. Akpe (2003-2009) founder of First Pension Consultant Ltd. First Stockbrokers and Chief Executive of Institute of Financial Planning; Dr. Olufemi B. Oyetunji (2009-2016) former Managing Director of Continental Reinsurance and Current Chairman of Salam-Allianz Insurance Plc; Mrs Oluwatoyin Sanni (2016-2018), former GCEO, United Capital Plc and Founder of Emerging Africa Group Limited; Prince Abimbola Olosahore, Founder/Chairman of Lead Capital Plc., President of Nigeria-Brish Chamber of Commerce and the current President of the Association is Alhaji Yusufu Aliyu Modibbo, Managing Director/Chairman of Tiddo Group of Companies.
Those who have, at one time or the other served as Executive Secretary/Chief Executive Officers of the Association were Mrs. Juliet Ekwegh (1992-2003); Mr. R. K. Tukuru (2003-2006) and Mr. Adebayo Alabi (2006-2015). The current Executive Secretary/CEO of the Association is Mr. Akinduro S. Philips.
COLLABORATION WITH OTHER PROFESSIONAL BODIES
(i) Affiliation with University of Lagos
In furtherance of the core mandate of the Association which is to provide qualitative education to the financial sector, IAPM in 2005 started an Executive Diploma programme course on Pension Fund Administration and Investment Techniques in collaboration with the University of Lagos as senate approved course. With the first set of graduates of the programme, the institute began to admit individuals as members as Associates of the institute.
In 2009 the syllabus was restructured and upgraded with it scope widened to cover all areas of Investment Management to certified individuals after the completion of the institute course programme and have met other requirements as prescribed by the bye-laws of the Association for the award of Associate member of IAPM.
(ii) Affiliation with CISI, UK.
IAPM signed an MoU with the Chartered Institute for Securities and Investment (CISI) of United Kingdom, (the largest chartered financial professional body in the entire Europe, Asia) to serve first served as the institute’s Accredited Training Partner (ATP) in Nigeria on 15th October 2019 after a painstaking processes in line with the policies and standards of the two bodies; and on 4th February 2021, the Charted Institute for Securities and Investment (CISI) approved the integration of IAPM syllabus and the CISI syllabus as well as membership bounding such that Associate and Fellow members of IAPM automatically qualify as Associate (ACSI) and Full members (MCSI) of the Chartered Institute for Securities and Investment (CISI) and vis-a-vis respectively.
The Chartered Institute for Securities & Investment (CISI) certificates are recognized globally, with formal regulatory recognition in over 170 jurisdictions and significant presence/exams taken in over 100 countries, including major financial hubs in Europe, Asia, Africa, and the Middle East, allowing professionals enhanced status and mobility in global finance.
(iii) Collaboration With Chartered Institute of Stockbrokers on CISIM Bill.
In order to increase her market share and relevance in the education and training in the capital market and to participate in setting standards for the securities traders and investment practitioners in Nigeria, IAPM have signed a Memorandum of Understanding (MoU) with the Chartered Institute of Stockbrokers and two other stakeholders (Fund Managers Association of Nigeria and Association of Issuing Houses of Nigeria) to repeal the Chartered Institute of Stockborkers Act of 2004 and provide for the establishment of the Chartered Institute of Securities and Investments Management (CISIM) to set standards of knowledge, ethical conduct and practice, certify, train, discipline and direct the practice of securities and investment profession and for related matters.
The bill after it enactment into law will provide areas of specialisation across board in the capital market operations and IAPM shall in accordance with the MoU provide training in the area of investment management and financial advisory and portfolio management; and in collaboration with other stakeholders set standards for qualification in these areas.
CONFERENCES
Members Forum or Conference is a regular yearly event of the Association primarily to discuss and educate members and members of the investment community about current issues as relates to the financial industry and also serves as platform for members to network and make information about their products available to members and members of the public.
The major highlight of the forums/conferences is the yearly induction of qualified Associate members of the institute and conferment of fellows and honorary fellowship of the institute on deserving individual members of the finance and investment industry who have distinguished themselves as industry professionals and contributed immensely to the growth of the industry.
CREATION OF CORPORATE AND INDIVIDUAL INVESTMENT ADVISERS (CIIA)
The initiative to create a Self regulate body for investment advisory industry was first conceived by the Council of IAPM following the Association’s experience in it developmental stride of the capital market spanning several years. This initiative became more intent after the last global financial crisis and in line with global movement to strengthen the practice of investment recommendations and decision making on behalf of investors in the market. After series of engagements with the Securities and Exchange Commission (SEC) and other stakeholders the Association decided to sponsored the establishment of the Association of Corporate and Individual Investment Advisers of Nigeria (CIIA) to elevate the quality and profile of the investment advisory industry and to uphold the highest standards of professional practice, eliminate conflicts of interest, agency abuses in the market and investors protection generally.
The body was approved by SEC on 20th April, 2018 as the only recognised trade group for all registered corporate and individual investment advisers in the Nigeria capital market with the stated objective as follows:
- Promote professionalism, highest ethical standards and competence in the investment advisory profession.
- Champion the cause of advocacy at the highest policy level of governance in the matters of investment practice in Nigeria.
- Provide a platform for the development of investment advisory industry in Nigeria through the adoption of tested global standard value addition.
- Represent and self regulate all SEC registered investment advisers through structure practice requirements with a view to maintain markets integrity.
- Collaborate with government, other professional bodies and accredited international institutions to develop a well-rounded investment advisory practice and become a strong bulwark and reference point for investors’ protection in Nigeria and
- To carry out other duties and assignments as may from time to time required by the Securities and Exchange Commission (SEC) and other market regulators.
TRANSFORMATION INTO AN INSTITUTE
The association is currently working to transform into a full fledged training institute to enable it focus on the provision of qualitative education on investment and financial management and to give corporate identity for investment advisers and portfolio managers, promote continuing education and intellectual growth of members by encouraging and enlightening them to become professional investment advisers and portfolio managers. The institute after establishment shall have the powers to collaborate with other institutions of higher learning and professional bodies in attainment of this goal.
MEMBERSHIP
- Nigerian Council for Management Development (CMD)
- Member of World Pension Association.
- Accredited Training Partners of the Chartered Institute of Securities & Investment, Uk.
- International Faculty of Finance (IFF).