Thinc sounds RDR small firms warning

Murphy, director of wealth management at Thinc, says some of the proposals in the review could mean the end of small independent firms. Speaking at Morningstar’s Investment Conference in London, Murphy says: “I think in future we’ll see fewer small independent businesses as a result of growing regulatory requirements and capital adequacy issues.” Murphy ran his own small IFA firm until several years ago and says he ended up spending more time fulfilling his regulatory roles than he did speaking to clients. “I was acting as compliance officer and a whole range of other roles, which meant ...