Time for a re-think on FSA fees

“The independent advice sector provides a necessary alternative to the big insurers and the high street banks. AIFA`s recent findings on the popularity of such advice support the view that independent advice is valuable and important in an increasingly complex financial world. AIFA and director general Chris Cummings are concerned the sustainability of an independent intermediary market is threatened by the regulatory burden of FSA fees, RDR, an FSCS levy and new capital requirements. Indeed, the total fees charged by the FSA have increased in recent years to £454m – a rise of 123% si...