The firm, which was previously an appointed representative, says the change of regulatory status was a ‘strategic goal’.

Russell Martin, managing director of F4B said: “This is another major milestone in the company’s journey and I am looking forward to taking F4B to the next level.”

Ian Ferguson, head of completions added: “There is no doubt that attaining direct authorisation requires a lot of focus and hard work. I would like to thank SimplyBiz who have assisted us through the process and I am very pleased that we are now in a stronger position to move forward as it give us more freedom and autonomy to operate in the whole of market sector and provide a more competitive offering for our introducers’’