Your IndustryNov 22 2019

Support firms adapt services under increased adviser M&A

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Support firms adapt services under increased adviser M&A

He also pointed to advisers who are part of a company which is bought by another, but not its principal, as potential new clients for a support firm.

The departing advisers may see an opportunity to set up their own advice business and create a "multiple of additional firms" in the marketplace, Mr Facer said. 

He added: "As can be seen in the FCA's market data, there is a small increase in big firms in the advice market but quite a big increase in small firms.

"This is because what happens on the back of consolidation is you get more one- and two-man bands setting up.

"So from our perspective, we’ve always got between 20 and 40 applications on the go at any one time, so you’ve got new companies coming through.

"And then arguably those companies get authorised, you’ll help them and at some point further down the line they’ll sell their business. There’s a constant flow on that side." 

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