We do not want fewer adviser firms - FSA

It says the RDR and capital adequacy requirements have "nothing to do" with the number of firms, but rather about "achieving a step change in the standards advisers need to meet". Some industry commentators have accused the FSA of attempting to push smaller businesses into the arms of national or network propositions to escape excessive regulation and spiralling costs. Including general insurance, mortgage and home finance intermediaries, the FSA regulates almost 15,000 individual firms and many advisers argue its proposals for the industry hint at an ulterior motive to reduce this nu...