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Small firms are biggest part of FSA

Small firms now represent 97 per cent of the FSA’s membership since regulation of mortgages and general insurance, says FSA managing director David Kenmir.

At the FSA’s first annual retail intermediaries conference last week at the National Motorcycle Museum in Solihull, Kenmir also said the national strategy for financial capability financial education programme would put the priority on schools this year. He said the FSA will be focusing on treating customers fairly, key facts illustrations, depolarisation and remuneration.

Kenmir said: “As the retail market evolves, IFAs face an uncertain future. Those that adapt their businesses to take advantage of the opportunities the marketplace presents will flourish because of the growing need for financial advice.”Conference reports, p12

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