The number of financial adviser firms will shrink to 10,000 by 2013 as firms
attempt to comply with Financial Services Authority proposals in the Retail
Distribution Review, Ernst & Young says.
An E&Y report warned that IFA firms are threatened by new rules set out
in the review, along with the ongoing fallout from the financial crisis.
The cost of better quality advice for consumers in the long-term will be a
big reduction in the number of qualified advisors in the short-term, the report
The FSA estimates that nearly 20 per cent of financial adviser firms are
loss-making and that a further 24 per cent have profit margins below five per
cent of turnover.
Does Darwin's theory apply to taxation? Colin ponders...
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy