In addition to being able to advise and arrange on investments this licence enables a firm to deal as agent (e.g. execute client orders and operating a client’s account via a power of attorney). It will also permit a firm to trade on a matched principal basis.
We charge a fixed fee of £10,000 + VAT to process this type of application. This licence will require preparation of an ICARA document (detailed risk management / financial document). The FCA charges an application fee of between £1,500 - £5000
The capital requirement for this type of licence involves taking a number of factors into account but as a guide it will usually be the higher of €50,000 (increasing to €75,000 from 2022) or one quarter of your projected fixed costs in year, plus a capital buffer.
Fixed costs include: salaries, office costs, IT etc. As an example, if your fixed costs were £100,000 your capital requirement would be €50,000 plus a capital buffer (e.g. £60,000). If your fixed costs were £400,000 your capital requirement would be £100,000 plus a capital buffer (e.g. £120,000).
For a free no-obligation quote please call us on 0203 405 7416. Alternatively, you can send an e-mail to firstname.lastname@example.org