Why the FSA might welcome the Openwork / 2plan deal

According to a significant chunk of the adviser community, the regulator wants fewer, larger businesses. Using parlance usually reserved for conspiracy theorists, they say fewer regulated firms "are easier to regulate, easier to keep an eye on". This is, of course, something the FSA would never admit to. In fact, it flat denies it. The consolidation of Britain's independent financial advisers is gathering pace. Back in 2002, Aegon bought Momentum Financial Services, at the time one of Britain's largest IFAs with 230 staff and nine offices. It was Aegon's third purchase of an IFA...