Stretching your resources: how much of a threat is cap ad?

Changes to financial resource requirements (FRR) represent the fourth pillar of the FSA's Retail Distribution Review (RDR), alongside professionalism, qualifications, and the way in which advice services are described and charged for. It is an area that could force some companies to sell up, others to change the way they operate, and - ultimately - see a few fail to meet the requirements and be forced to cease trading. There are various measurements of FRR and, over the next three years, many advisory firms will need to substantially increase the amount of free cash they hold to meet ...