Adviser network Financial Ltd has received numerous applications from firms to join since a recruitment ban was lifted late last year, director Brian Galvin has said.
About 20 firms have applied to join the network since the ban was removed in late November, according to Galvin. The Financial Conduct Authority (FCA) subjected Financial Ltd to a landmark recruitment ban in July after it found poor standards of business among its advisers. This created a risk it may provide unsuitable advice to client, the regulator said. But Galvin said the network had worked on its processes since the FCA's intervention, though it has "more to do to get things working in the right way". The regulator's punitive sanction was intended to have a financial i...
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