Armchair Critic: What does the current burst of acquisitions mean for advice?

Expansion, not consolidation, key for advice sector

clock • 4 min read

Industry consolidators do not need extra attention from the regulator, argues Professional Adviser's Armchair Critic - they just need to remember who they are buying and why

Building up a business and selling it to make some capital is a well-trodden path in any market economy and it is very natural that some adviser practices would do just this. I have no sympathy with Royal London's call for the FCA to scrutinise the outcomes where a financial advisory practice is sold to a life group as with, say, Standard Life with its 1825 brand. While I have argued in this space that vertical integration carries risks for the consumer, I would say it is up to all parties involved within the business to ensure consumer value. Whatever you say about vertical integration,...

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