Revealed: Number of adviser firms in financial difficulty during lockdown

170 regulated firms

Hannah Godfrey
clock
May proved to be the trickiest month, with 14 firms reaching out individually.
Image:

May proved to be the trickiest month, with 14 firms reaching out individually.

The Financial Conduct Authority (FCA) has been contacted by 41 adviser firms since March regarding fear of firm financial difficulty, a freedom of information request submitted by Professional Adviser has revealed.

Between March and July, 27 adviser firms reached out to the regulator on an individual basis to notify the FCA they felt they were falling into financial difficulty. May proved to be the trickie...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FSCS prepares to close LCF compensation scheme

FSCS prepares to close LCF compensation scheme

Final date undisclosed

clock 09 August 2022 • 2 min read
Ruairi O'Connell appointed as FCA's director of international

Ruairi O'Connell appointed as FCA's director of international

Joins from the Home Office

clock 05 August 2022 • 1 min read
FCA proposes changes to unsuitable pension transfer advice redress calculations

FCA proposes changes to unsuitable pension transfer advice redress calculations

Reflecting ‘actuarial best practice’

clock 02 August 2022 • 2 min read