WFIC - World Federation of Investors Corporation

The World Federation of Investors is an independent, not-for-profit organization whose members are primarily national shareholders' associations. WFI was formed to promote investor education and shareholder advocacy. WFI helps national shareholders associations and investor advocacy groups better serve their members. more
2014 WFI ANNUAL MEETING – September 25 – 26
2014 WFI Annual Meeting - Vienna, Austria

WFI Chairman Roger Ganser’s closing remarks at the Annual Meeting of the World Federation of Investors in Vienna, Austria.

Thank you, moderator Peter Muzik, distinguished speakers, RBI for hosting our Annual Meeting in their lovely facility, and to Willi Rasinger and his colleagues for being such gracious hosts during our three days in Vienna.

My role as Chairman of WFI and as a worldwide promoter of investor education came after a teaching career and a thirty-year career as a venture capitalist. I am currently serving a four year term on the USA Security Exchange Commission’s (SEC) Investor Advisory Committee where I am a member of the Executive Committee and chairman of the Investor Education Subcommittee. This past year I was appointed to the Investor Issues Committee of the USA Financial Regulatory Agency (FINRA) who oversees all stock exchanges, brokers, advisors, and dealers. For the past six years I have represented individual investors at the New York Stock Exchange advisory committee. So, I understand the process of capital formation and the importance of capital formation to the future of a nation's economy and the welfare of its citizens. Financial literacy, which refers to very basic skills like balancing a check book, is a worldwide problem. Investor education is an equally critical problem if we are to enable individual investors to build wealth to insure their own quality of life. We require the cooperative efforts of governmental agencies, banks and exchanges, and non-profit investor education organizations to create nations of active and successful individual investors.

Below: Speakers at WFI sessions "Financial Education" and "Banking and Business in CEE and Russia" hosted by Raifeisen Bank International

Speakers at the WFI Annual Meeting in Vienna, Austria

Herbert Stepic, Speaker at the WFI Annual Meeting in Vienna, AustriaAbove (from left): Eduard Zehetner, CEO, Immofinanz, AG; Roger H. Ganser, WFI Chairman; Dr. Wilhelm Rasinger, President, IVA and 2014 WFI host; and Peter Muzik, Moderator

Left: Herbert Stepic, Past Chairman, Raiffeisen Bank International AG

ecoDA Powerpoint Presentation

Lars-Erik Forsgårdh Dr. Forsgårdh spoke on governance issues and initiatives in the EU as a guest speaker at the WFI meeting in Vienna.

Information for Individual Investors Powerpoint Presentation

Video Report - Annual Meeting and Converence of WFI in Vienna.


Former WFI CHairman Lars-Erik Forsgårdh is now Chairman of the European Confederation of Directors' Association, an independent voice advocating good corporate governance in the EU.


Iberdrola SA, a Spanish company and world leader in wind and solar energy, invested heavily in alternative energy in response to Spain's alternative energy initiatives. This investment was severely threatened by unexpected changes in the Spanish legislation for promised support for renewable energy projects. AEMEC, the Spanish shareholders association, analyzed the case and found it appropriate to defend Iberdrola and consequently its shareholders that had been the victims of a situation created by the authorities and the change of law. The idea was to find a reasonable solution via arbitration or agreement by which all parties would accept a reasonable solution, preferable outside the court of justice.

Advocate Hachem Boulos, Chairman of the WFI Advocacy Committee, recommended that WFI support the case on behalf of Iberdrola shareholders. The primary reason for WFI's action would be to help inform and educate individual investors of the risk of investing in companies based upon political decisions. WFI's goal is to improve investors knowledge worldwide which is fundamental to investment success. The Executive Committee unanimously endorsed support for the investors of Iberdrola and the actions of AEMEC in this matter.


Roger Ganser, the nationally known founder of Venture Investors LLC, Wisconsin's oldest and largest venture capital firm will be inducted into the Wisconsin Investor Hall of Fame during a November 12, 2014, dinner tied to the Wisconsin Early Stage Symposium. Read more


Washington, D.C. – The Financial Industry Regulatory Authority (FINRA) announced the creation of a new Investor Issues Committee to advise FINRA staff on matters that significantly affect individual and institutional investors. WFI Chairman Roger Ganser was appointed to this committee as a representative of individual investors. Read more


The WFI Advocacy Committee was unanimously approved at the WFI Annual Meeting in Ljubljana, Slovenia. The Committee held its organization meeting with Advocate Hachem Boulos accepting the role and responsibility of Chairman of the Committee. WFI President Dr. Jean-Pierre Paelinck will serve as Secretary to the Committee. Also serving on the committee are Advocates Fausto Bongiorni, Paolo Brambilla, Maria Brandsdtetter, Antonia Marsaglia, Cristi Preda, Wilfried Hubscher, Rajko Maric, and Lawrence Sucharow.

The primary focus of the Committee will be on international, regional and national legislative and regulatory issues that concern the rights of individual investors.

Roger Ganser, WFI Advocacy Committee

WFI Chairman Roger H. Ganser


Increased involvement and interest in listed companies and the economy, participation in wealth building, and a reduction of the concentrated ownership in the listed companies are important aspects that argue in favor of increased direct individual share investment. Individual shareholders contribute to building a sustainable market economy through prioritizing companies that both take a financial responsibility and a societal responsibility. Personal investment in equity is of benefit to the individual, companies and society.

Successful shareholders are a prerequisite for a broad individual investment in stocks. Knowledge is fundamental to investment success. Therefore WFI and its member organizations promote investment education, based on proven investment principles and methodology. Fundamental Analysis and WFI Investing Principles provide valuable guidelines for more successful investment in stocks.

As an international organization WFI must try to understand and respond to a wide range of investor education needs. Consequently, our first course materials will be based on basic investor literacy and broad stock selection guidelines. Because some of our members have very advanced stock analysis methods and tools, we will also offer their valuable experiences. Both will be discussed at our annual meeting in Madrid in 2013.

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Personal investing in equity as a way of forming wealth should be promoted, since it enables individual investors to participate in the growth of business and thereby in the progress of nations and the world economy. Access to their own investment capital in stocks increases individuals' freedom of action and improves their chances of weathering financial difficulties. Private share ownership thus enriches the individual in a number of ways.

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