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FCA reduces authorisation times as consumer credit stabilises

The FCA has reported a slight fall in authorisation times for retail investment firms as it continues to work through a backlog of consumer credit cases. The average time for an authorisation to be processed was 11.2 weeks in the third quarter of 2017/18, down from 12.7 weeks the previous quarter. However, the maximum time […]

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Should you sell your firm to your own staff?

As the advice profession looks to the future of its businesses, IFAs are considering selling to their own staff as a way out of the succession dilemma. There are a whole host of options for passing on firms, from family succession planning, selling to a major network, consolidating with another IFA, or handing a firm […]

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FCA reviews preference share market following Aviva backlash

The FCA is reviewing the market for preference shares following the furore over Aviva’s recent decision to cancel its high-yielding preference shares at par value. FCA chief executive Andrew Bailey says in a Dear CEO letter that the regulator is reviewing the prevailing market for certain fixed income shares, particularly those classed as perpetual, irredeemable […]

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Harwood Wealth buys Ascot IFA

Harwood Wealth Management has acquired Ascot-based IFA Fund Management for £1.1m. Fund Management, which has assets under advice of £34m, was jointly owned by Ian and Diana Head. The firm will operate as its own brand and Ian Head will remain at the business as an adviser. Harwood Wealth non-executive chairman Peter Mann says: “We […]

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