A new consultancy offering brokers advice on FSA compliance will be launched at the beginning of December.

Richard Sell Consulting will assist small brokers with their applications for authorisation, focusing on a range of issues including competence and training and the preparation of renewal letters.

Director Richard Sell said: "We will be offering advice to high street brokers ranging from those with two staff, for example, to those with three or four outlets.

"We will advise brokers on how compliant they are, as well as the preparation of their applications for authorisation."

Nearly half of all brokers believe becoming FSA compliant will have an adverse impact on their businesses. Recent research carried out by accounting firm Mazars and Biba found that 48% of brokers felt the shift from GISC to FSA regulation will have a negative effect on their business.