Quick Answer
IT support for financial services costs from £50–85/user/month and must include FCA-compliant cybersecurity, encrypted communications, audit trail logging, and 24/7 monitoring. Financial firms face the strictest regulatory requirements of any sector — your IT provider must understand them. Get a free financial IT quote →
Updated March 2026 · Reviewed by our UK IT team
Financial services firms — from IFAs and wealth managers to fintech startups and insurance brokers — operate under some of the most demanding regulatory frameworks in the UK. The Financial Conduct Authority (FCA) expects robust operational resilience, and the consequences of IT failures or data breaches can include regulatory sanctions, client losses and reputational damage that takes years to recover from.
This guide explains what IT support financial services firms need, what it costs, and how to choose a provider who understands the unique demands of the sector.
Why Financial Services Need Specialist IT Support
- FCA compliance — The FCA requires firms to have adequate systems and controls, operational resilience plans, and cybersecurity measures. Your IT provider must understand these obligations.
- Data sensitivity — Financial data is among the most valuable to criminals. Client portfolios, transaction records and personal financial information require the highest levels of protection.
- Uptime requirements — Markets do not wait. Trading platforms, client portals and communication systems must be available when needed.
- Audit requirements — Regulators expect comprehensive audit trails. Your IT systems must log access, changes and communications in ways that satisfy regulatory scrutiny.
- Client expectations — High-net-worth clients and institutional investors expect seamless, secure technology experiences.
What IT Support for Financial Services Should Include
| Service | What It Covers | Why It Matters |
|---|---|---|
| 24/7 monitoring | Round-the-clock infrastructure and security monitoring | Financial markets operate globally — threats do not respect business hours |
| Advanced cybersecurity | SOC, SIEM, EDR, threat intelligence, penetration testing | Financial firms are the most targeted sector for cyberattacks |
| Compliance support | FCA operational resilience, GDPR, PCI DSS | Non-compliance can result in unlimited fines and loss of authorisation |
| Encrypted communications | Encrypted email, secure messaging, call recording | Client communications must be secure and often recorded for compliance |
| Business continuity | Disaster recovery, failover systems, tested BC plans | FCA requires firms to demonstrate operational resilience |
| Audit trail logging | Comprehensive logging of system access and data changes | Regulators may request access logs at any time |
| Financial software support | Bloomberg, Refinitiv, Intelliflo, Xplan, back-office systems | Specialist platforms need specialist support |
How Much Does IT Support for Financial Services Cost?
| Firm Type | Typical Cost | Includes |
|---|---|---|
| IFA / small wealth manager (1–10 users) | £55–85/user/month | Helpdesk, cybersecurity, compliance support, backup |
| Insurance broker / mid-size (10–50 users) | £50–70/user/month | All above plus 24/7 monitoring, financial software support |
| Asset manager / fintech (50–200 users) | £45–65/user/month | All above plus SOC, penetration testing, vCISO |
| Large financial institution (200+ users) | £40–60/user/month | Enterprise managed services with dedicated security team |
Get IT Support Quotes for Financial Services
Compare FCA-aware IT providers who understand financial compliance. Free, no-obligation quotes.
Need FCA-compliant IT support? Tell us about your firm and regulatory requirements and we will connect you with specialist financial IT providers. Get your free quote →
FCA Operational Resilience Requirements
Since March 2022, the FCA requires all regulated firms to:
- Identify important business services — Map the technology that supports your critical client-facing services.
- Set impact tolerances — Define the maximum acceptable disruption for each important service.
- Test resilience — Regularly test your ability to remain within impact tolerances through scenario testing.
- Maintain a self-assessment — Document your operational resilience framework and keep it current.
Your IT provider should help you map technology dependencies, implement redundancy, and conduct regular disaster recovery testing that satisfies FCA requirements.
Not sure if your operational resilience plan meets FCA requirements? Our IT partners can assess your current setup and identify gaps. Request a free FCA IT assessment →
Cybersecurity for Financial Firms
The Threat Landscape
Financial services firms face sophisticated, targeted attacks including advanced persistent threats (APTs), business email compromise (BEC), and supply chain attacks. The average cost of a data breach in financial services is significantly higher than other sectors.
Essential Security Measures
- Security Operations Centre (SOC) — 24/7 monitoring by security analysts who can detect and respond to threats in real time.
- SIEM (Security Information and Event Management) — Centralised logging and correlation of security events across your infrastructure.
- Endpoint Detection and Response (EDR) — Advanced endpoint protection that goes beyond traditional antivirus.
- Regular penetration testing — Annual or more frequent testing by certified ethical hackers.
- Staff security training — Regular phishing simulations and security awareness programmes.
Want 24/7 SOC monitoring without the enterprise price tag? Many of our IT partners offer SOC-as-a-service from £15/user/month. Compare SOC providers →
IT Support for Different Financial Sectors
Independent Financial Advisers (IFAs)
IFAs need secure access to platforms like Intelliflo, Xplan and FE Analytics, encrypted client communications, and compliance with FCA COBS rules on record keeping.
Insurance Brokers
Brokers need support for specialist software (Acturis, SSP, Applied Epic), secure data exchange with insurers, and compliance with Lloyd’s market requirements where applicable.
Fintech Companies
Fintechs need cloud-native infrastructure, DevSecOps practices, API security, and the ability to scale rapidly while maintaining compliance.
Wealth Management
Wealth managers need ultra-secure client portals, encrypted communications, and IT systems that reflect the premium service their clients expect.
Compare Financial Services IT Providers
Tell us about your firm and we will match you with FCA-aware IT providers who understand financial compliance.
Frequently Asked Questions
How much does IT support for financial services cost?
IT support for financial services firms costs £40–85 per user per month depending on firm size, regulatory requirements and security needs. The premium over generic business IT reflects the compliance and security specialisation required.
What FCA IT requirements do financial firms need to meet?
The FCA requires operational resilience planning, adequate cybersecurity, business continuity testing, comprehensive audit trails, and data protection measures. Your IT provider should help you demonstrate compliance with these requirements.
Do financial firms need a SOC?
While not explicitly required by the FCA, a Security Operations Centre provides 24/7 threat monitoring that is increasingly expected for regulated firms. Many cyber insurers also require or incentivise SOC monitoring.
Can a generic IT company support a financial services firm?
Generic IT providers typically lack understanding of FCA compliance, financial software platforms, and the heightened security requirements of the sector. Specialist financial IT providers are strongly recommended for regulated firms.
Related Guides
Blog Articles
- Outsourced IT Support UK 2026: Costs, Pros & How to Choose
- Business IT Support UK 2026: What It Costs & What You Get
- Managed IT Services for Small Business UK 2026
- IT Support for Law Firms & Solicitors UK 2026
- IT Support for Accountants UK 2026
Help Centre
- IT Support for Financial Services
- IT Support for Insurance Companies
- Cyber Security for Small Business UK
- What Is SIEM? Security Monitoring Explained
- Cyber Essentials Certification Guide
- IT Security Audit: What to Expect
Related Reading
More from the Connection Technologies blog.