Consolidation in advice: Why compliance is central to sustainable growth

Consolidation across the financial advice and wealth management sector has accelerated markedly in recent years. Private equity interest and ongoing succession challenges for retiring advisers have contributed to an increase in acquisitions, mergers, and client bank sales. Whilst consolidation can be positive in terms of bringing scale, investment, and operational efficiencies, the Financial Conduct Authority (FCA) has made it clear that embarking upon a growth strategy without suitably robust compliance and governance presents real risks for firms and, critically, for the end consumer. ...