FSA should be backing profitable small firms

20 August 2009

I was at a Sesame seminar a few years back at Leeds Armouries (when it was still DBS) where Steve Pearson absolutely assured the audience that the directly regulated small firm would soon be a thing of the past because the FSA was determined to get rid of them.

While that was, of course, a network sales pitch, I think the reference to the FSA's intentions was pretty accurate. It just shows though how daft the FSA is when it prefers loss-making big entities with slack controls over the advice they give to profitable small entities where, in my experience, the owner/manager watches the advice quality like a hawk. No manager looks after a business as well as an owner. Will the FSA ever wake up to that fact of life?

Neil Liversidge

Managing Director

West Riding Personal Financial Solutions

Have your say

Please do not complete the following form field for security reasons.

Name

E-mail

Comment

Post as

Anonymously

Display name

I have read and agree to the terms and conditions