How to start up IFA firm???? anyone?!

rubydebi

HI,
I have just complete the Diploma in regulated financial planning. My question now is, what do I have to do to set p my own IFA consultancy??? ie, regulations etc??

THANKS to anyone that can help! :j

Lokolo

Are you sure you want to do this as your first step?

Personally, I would work for a firm and get a feel for what it's like first of all.

rubydebi

I have worked within the financial services industry, typically life and pensions for the last 4 years, and have dealt with a few IFAs..I definately want to go straight into this.. but its just where to start!!!!

Amanita_2

I really don't think you stand a chance; you are far too inexperienced unless you plan to employ experienced advisers. I am in the process of deciding whether to register directly myself and I have over 25 years of experience in giving financial advice.

However if you want to research this more try www.simplybiz.co.uk - they will give you the costs of application, the annual costs and a realistic idea of exactly what you are letting yourself in for.

Hammyman

Surely regulations were part of the course you've just passed?

Evilm

rubydebi wrote: »

but its just where to start!!!!

I don't usually comment on something like this but where to start would be to use an appropriate amount of punctuation!

As for your question perhaps it would be worth using this government resource whilst it still exists : http://www.businesslink.gov.uk/bdotg/action/home

/yes I may have broken some grammar rules above.