The Financial Conduct Authority (FCA) is trying to manage out the smaller advice firms in the industry, the majority of industry respondents to a Professional Adviser survey agree.
In last week's PA Asks, 69% of respondents agreed with the statement, ahead of 18% who disagreed and 13% who were unsure. One pundit said: "The signals from the FCA seem to be that they do not trust smaller firms and it would make their life a whole lot easier if there were a few huge corporates. "The FCA should be encouraging smaller firms as it adds diversity and smaller firms in general tend to provide a more personal service to their clients as their motivation is not purely profit/shareholder driven." Another said: "Increased regulatory burden, increased personal liability on ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
