The Annett Consultancy is directed by Michael Annett (see ‘About us’), who, in addition to being UK professionally qualified in accountancy and taxation, is a qualified UK Independent Financial Adviser, still with the Chartered Insurance Institute, The Personal Finance Society and, until they were amalgamated into the aforementioned, The Society of Financial Advisers and the Life Insurance Association. The French regulatory requirements ensure a high standard of entry to the one of the six professional associations before membership is granted. The French ‘Association National des Conseils Financiers’ then require a guaranteed minimum number of hours of specific and dedicated professional development to be followed, which training is provided by professional training organisations and the ANACOFI themselves … all to ensue that membership is maintained. In this way, professional certification and standards in France are maintained in a more formal and structured manner.

The Annett Consultancy is a French practice of ‘Conseillers en Gestion de Patrimoine Indépendant’, as ‘Conseillers en Investissement Financiers’, ‘Courtiers d’Assurance Vie’, ‘Intermédiaire en Opérations de Banque’, and ‘Démarchage bancaire ou Financier’, meaning that we are regulated, professionally insured, and have the relevant financial guarantees to be able to engage in the following activities:

• Independent financial advisers and wealth management
  • investment advice
  • life assurance brokerage
  • intermediaries in banking operations
  • financial and banking advisers

The Annett Consultancy is independent of any peer organisation. When necessary, through mandates with other more specialised French appropriately-regulated financial practices, The Annett Consultancy can independently offer all other forms regulated financial advice and access to specialised ‘defiscalisation’ and property schemes available in France.

The term ‘Conseiller en Gestion de Patrimoine’ is a financial title that is seen in France, but, contrary to its incorrect use by some, this is not an official title, and, therefore, not one that can be, or is, either recorded, registered or even regulated.

The term literally translated means ‘adviser in wealth (or estate) management’. As it is not possible to advise on a client’s overall estate or wealth whilst falling under only one Regulator, by definition the activity requires and necessitates multi-regulation. Accordingly, the title refers to practitioners offering the wider professional activity and is used to identify those that, due to their diverse financial consultancy and intermediary activities, fall under several Regulators.

However, on an administrative note, there is also an implication in the classification of the business activity for the practitioner in France as, for example, only being regulated under ORIAS defines the intermediary’s business activity of brokerage as ‘commercial’. Conversely, the multi-regulated adviser, the ‘Conseiler en Gestion de Patrimoine’, would be considered to be a ‘profession libéral”.

Where the ‘Conseiller en Gestion de Patrimoine’ is seen to be truly independent, thus having access to more than a few set providers of investment mediums and contracts, his statute is elevated to that of ‘ Conseiller en Gestion de Patrimoine Indépendant’.

Please find below our statutory identifications under the various Regulators:

• ORIAS - 07 034 696 Category B
• ANACOFI-CIF - E001306
• UK FSA passport - 479122
• Banking operations are regulated by the banks individually, who each issue us with a ‘carte professionnelle’ (art. 341-8 Code Monétaire et Financier)
• The activities covered by our Professional Indemnity Insurance include the following:
  • Financial and investment advice (article L541-1 to L541-7 Code Monétaire et Financier)
  • Intermediation in banking operations (article L519-1 to L519-5 Code Monétaire et Financier)
  • Banking or financial prospection (article L341-1 to L341-9 Code Monétaire et Financier
  • please note that because we do not accept client investment or premium monies (see our Terms of Business), we are not covered to hold client funds
• … for which we are covered to the extent of of 1 525 000€ per claim and 3 050 000€ per year, and a professional public liability cover of 1 150 000€. As we hold no client funds, we are dispensed with having to hold a financial guarantee.

Our Professional Indemnity and Financial Guarantee are provided by Allo Assurance, 26958 Valence.