Revealed: Advice firms giving up authorised status jumps 20%

252 firms pulled out

Sophie King
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Meanwhile, Philip J Milton Chartered financial planner Felix Milton said he finds the FOI worrying for two reasons.
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Meanwhile, Philip J Milton Chartered financial planner Felix Milton said he finds the FOI worrying for two reasons.

One fifth more advice firms gave up their FCA authorised status in the year leading up to June 2020 than the year before, a freedom of information (FOI) request submitted by Professional Adviser has found.

The FOI, submitted to the Financial Conduct Authority (FCA), found that in the 12 months leading up to June 2020, 252 advice firms gave up their authorised status. However, that number was 210 in the 12...

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