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).
We charge a fixed fee of £12,500 + 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 £5000.
The capital requirement for this type of licence is £75,000. There may be additional capital requirements (e.g. K factors, fixed overhead requirement and liquid assets test) that have to be considered for a brokerage licence. Further details available on request.