The Financial Conduct Authority's review into consolidation in financial advice was spurred by industry concerns rather than from within the regulator, the watchdog's head of department for advisers, wealth and pensions has said.
"I have been to a lot [of events this year] and consolidation comes up time and time again," Nick Hulme told Investment Week sister title Professional Adviser. "It is not something that we are pushing, [we've been asked] ‘have you looked at consolidation?' "It is an industry-led piece that we're responding to, and that's part and parcel of this closer collaboration – we want to be able to have that conversation and chat, to hear what industry are hearing, share what we are hearing, and then perform our role as a result." FCA to carry out consolidation review The FCA is and alway...
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