Advisers have criticised the increased merger and acquisition (M&A) activity of late, saying they feared it would "dilute" firms' service and proposition.
The advisers said they were vary of firms becoming too big and some firms being forced to operate a charging model that was "broken". They were also concerned about the 'shrinking choice' for consumers. On Monday morning Bellpenny and Ascot Lloyd completed a merger deal to create a combined business with more than 100 advisers and £6bn in funds under management (FUM). On the same morning, consolidator firm AFH completed the purchase of three more IFA firms, taking its total acquisitions for the year into double figures. Fairstone also acquired another firm and added a firm to its p...
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