Our Regulation
Pelican Consulting is directed by Michael Annett (see 'Our background'), who, in addition to being UK professionally qualified in accountancy and taxation, is a qualified UK Independent Financial Adviser, and still a member of the Chartered Insurance Institute and 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 one of the six professional associations before membership is granted. These, in our case the French ‘Association National des Conseils Financiers’ (‘ANACOFI’), 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.
Pelican Consulting is a French practice of ‘Conseillers en Investissements 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:
- financial advisers
- investment advisers
- life assurance brokerage
- advisers and intermediaries in banking operations
Pelican Consulting is independent of any peer organisation.
When necessary, through mandates with other more specialised French appropriately-regulated financial practices, Pelican Consulting can independently offer all other forms of regulated financial advice and access to specialised ‘defiscalisation’ and property schemes available in France.
Within the profession, we are currently known as 'Conseillers en Gestion de Patrimoine Indépendant' given the degree, variety, independence and depth of our advice and recommendations. However, this was a French financial title which, until a new law came into effect on 01.01.2011, and contrary to its incorrect use by some, was not an official title and, therefore, not one that could be either recorded, registered or even regulated. But today the title is legal, and the Regulation applicable is that of any of the five underline activities - financial advice, brokerage, banking operations, estate agency and 'legal administrative jurisprudence'. The French title literally translated means 'adviser in wealth (or estate) management', and since it is not possible to advise on a client’s overall estate or wealth whilst falling under only one regulatory activity since this would be too limiting, 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 qualifications, diverse financial consultancy and intermediary activities, fall under several Regulators and have the professional experience and knowledge to take financial planning to the highest levels.
On a more administrative note, France registers businesses according to their activity, and this registration in turn dictates the ‘Convention’ (further rules !) applicable to the business activity. There is an activity code for the act of «brokerage» (6622Z), and there there is a code for «advice» (7022Z). As can be seen by connecting to http://www.societe.com and typing in the firm’s name, most financial advisers have the activity code 6022Z (Activités des agents et courtiers d'assurances), indicating that their main activity is that of brokerage, not the provision of advice.
Pelican Consulting has an activity code of 7022Z, ‘Conseil pour les affaires et autres conseils de gestion’, since our main activity is that of the provision of advice.
Please find below our statutory identifications under the various Regulators:
Business activity code (code APE)
ORIAS
Organisme pour le Registre des Intermédiaires en Assurance
ANACOFI-CIF
Association Nationale des Conseillers Financiers
ACP
Autorité du contrôle prudentiel
International passports
7022Z 'Conseil pour les affaires et autres conseils de gestion'
Category B 07 034 696
E001306
ACPCOU07034696
UK (n° - 479122), Ireland, Luxembourg and Belgium
Banking operations are regulated by the «Autorité du contrôle prudentiel» and advisers are currently issued with a ‘carte professionnelle’ (art. 341-8 Code Monétaire et Financier)
The activities covered by our Professional Indemnity Insurance with Allo Assurance, 26958 Valence, for which we are covered to the extent of of 1 525 000€ per claim and 3 050 000€ per year, for 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 and financial services (article L341-1 to L341-9 Code Monétaire et Financier)
Public liability insurance cover of 1 150 000€ with the same assurer
Because we do not accept client investment or premium monies (see our Terms of Business), we are dispensed with having to hold a financial guarantee.
Accessible