FSA wants a third of firms - consolidator

Perspective Financial Group has bought eight IFAs since launch 18 months ago and, thanks to a refinancing package which has opened up another £6.5m in funds, plans to double that within a year. Managing director Damian Keeling says: "Undoubtedly it [the FSA] wants to see a collapse in the number of firms. "It wants the same number of people, but bigger, fewer groups. It would be happy with a third of what it deals with now." Keeling says the growing number of IFA consolidators - Thinc founder Simon Chamberlain has launched Succession while industry veteran Garry Heath is seeking to...