The Financial Conduct Authority (FCA) is trying to manage out the smaller advice firms in the industry, the majority of industry respondents to a Professional Adviser survey agree.
In last week's PA Asks, 69% of respondents agreed with the statement, ahead of 18% who disagreed and 13% who were unsure. One pundit said: "The signals from the FCA seem to be that they do not trust smaller firms and it would make their life a whole lot easier if there were a few huge corporates. "The FCA should be encouraging smaller firms as it adds diversity and smaller firms in general tend to provide a more personal service to their clients as their motivation is not purely profit/shareholder driven." Another said: "Increased regulatory burden, increased personal liability on ...
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