The operating system for introducer-led growth
RQ helps professional firms send, manage, and prove referrals — with built-in compliance, clear tracking, and real visibility across the firm.
When does my firm need a DPB investment business licence?
Category: ICAEW & RQ
Your firm needs a DPB investment business licence from ICAEW if it carries out regulated investment activities that go beyond making simple referrals. This includes: giving advice on investments such as pensions, ISAs, or unit trusts; arranging deals in investments for clients; managing client portfolios; or receiving ongoing commission from financial services providers. If you simply refer clients to an FCA-regulated adviser without providing any advice or commentary on the suitability of investments, you may not need a licence. However, if you discuss investment options, recommend specific products, or comment on the appropriateness of investments for a client, you likely require a DPB licence. Use the <a href="https://www.icaew.com/-/media/corporate/files/regulations/dpb-investment-business-licence/icaew-traffic-light-guide-to-investment-business-activity.ashx" target="_blank" rel="noopener noreferrer" class="text-[#0073cc] hover:underline">ICAEW Traffic Light Guide</a> to determine your licensing requirements.