A tool enabling directly-authorised member firms to calculate their capital adequacy requirements is being launched by Tenet Support Services (TSS).
The free calculator, available via the TSS extranet, will help firms work out how much additional capital they will need and work to meet the requirements before they are introduced in 2013.
In November, the FSA proposed doubling the minimum level of capital resources for personal investment firms (PIFs) to £20,000.
But it also announced the expenditure-based requirement - which demands PIFs hold three month's worth of fixed costs - will be extended to all firms.
"Early planning for future capital requirements will be crucial and our calculator will assist adviser firms to identify the amount and any potential shortfall, allowing sufficient time to make provision," Tenet distribution and development director Keith Richards says.
"Changes to capital adequacy requirements are not entirely unexpected and should not necessarily pose a threat to the majority of well run businesses, as long as they are well prepared."
Cautious, Balanced & Dynamic Growth
Cowardly, boring or sensible
Latest news and analysis
‘Most significant’ upgrade since launch
Changes happening over coming months