The FCA has stripped West Sussex-based IFA Rhoss Dancey (FRN: 666823), trading as RDI Wealth Management, of its permissions to carry out regulated business.

The decision to revoke the firm’s Part 4A permissions means it can no longer transact FCA-regulated business.

The FCA said it had made the decision yesterday (8 October) because evidence suggested that the firm was conducting no regulated business that the Part 4A permissions related to.

The single adviser firm had also failed to submit returns in recent times.

Bognor Regis-based Rhoss Dancey was authorised by the FCA on 21 April 2015 and help permission to carry out regulated activities in relation to advising on pensions, investments, insurance distribution and home finance business.

The FCA said its cancellation of the company's Part 4A permissions takes place immediately but the firm has the right to seek an annulment of the FCA’s decision by 7 October 2026.

Firm founder Rhoss Anthony Lewis Dancey was previously an investment adviser at 2 Plan Wealth Management (2007-2015) and an investment adviser at Quilter Financial Planning Solutions (2003-2007).

On LinkedIn Mr Dancey describes himself as specialising in creating investment solutions for private clients with investible assets in excess of £250,000. He holds a Diploma in Regulated Financial Planning from the Personal Finance Society.

The FCA is currently undertaking a review of 11,000 requirements and limitations covering 9,000 regulated firms as it looks to improve the accuracy of its Register.

The FCA said it has noticed that some data published on the FCA Register is out of date and there were also small errors in some entries.

The FCA said it had found that some of its data was out of date, had been superseded by new data or needed small errors correcting.