The FCA propose to introduce yet more legislation to force the networks to clamp down on the free wheeling IFA model, by increasing central control and oversight.
Apart for all the bolt tightening and inspection revamps there is a fee of £250 that all principals will have to pay to the FCA in order to appoint an AR, repeating annually.
This should broadly be welcomed by the industry, although network members may not thank me for saying so, the increased barriers to entry into our profession only serve to enhance our own prospects, so long as we can stay with it.
Read our policy paper here
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