Becoming an appointed representative.
So, you’re thinking of setting up an insurance brokerage. You’re an experienced account executive or an insurance professional with an eye for a great business opportunity. Whatever your reasoning, deciding which route to take to become authorised is a big decision.
On one hand, you can become directly authorised with the FCA, a process that can take 6 to 12 months. It will also cost you between £6,500 and £75,000 to get authorised and satisfy the FCA’s capital requirement. Alternatively, you can partner with Momentum as an insurance Appointed Representative for a fraction of the time and cost.