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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I would like to set-up a wealth management business. Do I need

Customer Question

I would like to set-up a wealth management business. Do I need a license to run such a business in England?
Submitted: 2 years ago.
Category: Law
Expert:  UKSolicitorJA replied 2 years ago.
Hello,

Yes, you would need authorisation from the Financial Conduct Authority, see here for further information: http://www.fca.org.uk/firms/about-authorisation/do-i-need-to-be-authorised

Hope this helps
Customer: replied 2 years ago.

I am an accountant and the document you've sent says that accountants are exempt from registering. But it doesn't give any further details on this, i.e. which financial services can accountants offer, etc. Where can I look for further info on this?

Expert:  UKSolicitorJA replied 2 years ago.
Yes, accountants are exempt if they are providing limited regulated financial services which are incidental to their main professional services. You should consult your accountancy regulatory body to see if they have any further guidance to what services can be provided and what cannot be provided. The main test is whether your proposed wealth management service is incidental to your professional service.
All the best