Dom House reacts to the FCA's consolidation review and lays out what it means for the advice market...
Over the last decade, the financial advice market has been dominated by a rise in merger and acquisition (M&A) deals. Acquisitions have been by firms of all sizes and shows no sign of stopping. But in October 2024, the Financial Conduct Authority (FCA) announced it will carry out a multi-firm review into consolidation of financial advice firms. The FCA said in the Dear CEO letter that "while industry consolidation can provide benefits, various types of harm can occur where this is not done in a prudent manner with effective controls to promote good outcomes". The FCA's review should ...
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