Corporate Finance
This licence will enable a firm to provide corporate finance advisory services to clients. This will include:
• Corporate finance advice
• M&A
• MBO, Corporate restructurings, Disposals etc.
The capital requirement is only £10,000. We charge a fixed fee of £10,000 + VAT to process this type of application. The FCA charges an application fee of £2500.
Investment Advisor
This licence type will enable you to advise and arrange deals across all product types. You can advise retail or professional clients or, for example, a fund. We charge a fixed fee of £15,000 + VAT to process this type of application. Our fee includes preparation of an ICARA in accordance with FCA requirements. The FCA charges an application fee of £5,000 and the capital requirement for this type of licence is £75,000.
Fund Managers
If you are looking to manage a fund or act as a discretionary investment manager, we are here to assist. With many years of experience in processing AIFM and investment management applications for firms of all sizes, we can help guide you through the process.
We charge a fixed fee of £12,500 for a small AIFM application and £25,000 for a full-scope AIFM. For a discretionary investment manager application we charge a fixed fee of £15,000. The FCA currently charge an application fee of £10,000. For a discretionary investment managers our fee includes preparation of an ICARA in accordance with FCA requirements. For a small registered AIFM application we charge £2000 + VAT.
Wholesale Broker
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 £15,000 + 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 £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.
Investment Manager
This type of licence will enable a firm to manage investments either via a managed account or by managing a Fund via a delegated portfolio management arrangement. We charge a fixed fee of £15,000 to manage 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 £10,000. The type of licence will have a capital requirement of £75,000. There may be additional capital requirements based on the amount of assets under management and size of orders executed (further details available on request).
E-money & Payment Services
We have extensive experience in processing these types of applications. For an authorised payment services firm we charge a fee of £30,000 + VAT and for an e-money licence we charge a fixed fee of £35,000 + VAT.
Proprietary Trading
For firms looking to trade for their own account the minimum capital requirement is £750,000. At City Capital Consulting we have extensive experience in managing this licence type and charge a fixed fee of between £25,000 - £40,000. Process involves preparing a detailed ICARA, financials and risk procedures and will usually take 6 months to obtain approval. The FCA charges an application fee of £10,000.
Client Money & Assets
For those firms looking to hold client money and/or assets the base capital requirement is £150,000. We charge a fixed fee of £25,000. The FCA charges an application fee of £10,000.