News editor's view: Let's give it up for the small advice firms

This week, the regulator officially extended the initiative for solo-regulated firms that have been authorised and operating for at least three years, are achieving sustained annual income growth of more than 20%, and are expected to continue growing. To qualify, firms must also have either gross annual revenues exceeding £100m or an investor valuation above £250m. The FCA explained that the unit gives tailored support to firms which are looking to expand and helps them "navigate regulation so they can scale sustainably". Industry reaction has raised concerns that many fast-growing...