Network Alpha to Omega has been told by the FSA it is unable to take on any new business.
A spokesman from the regulator confirmed the Winchester-based firm, which claims on its website to be one of the UK's 50 largest IFA businesses, has had its permissions changed.
"Our register is in the process of being updated to confirm the firm's permissions have changed and it is unable to take on new business."
He adds the firm's members will be informed of the change.
"The register will confirm the firm will be writing to its appointed representatives to notify them that permissions have changed."
Alpha to Omega launched six years ago offering independent financial advice on areas including mortgages and general insurance.
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