Mark Neale: 'Putting a levy on advice is difficult'

The FSCS was set up in 2001 following the Labour Party's reform of financial markets. Covering deposits, insurance, mortgages and investment advice among other things, it is one of the few levies in the world that compensates customers for failings across all aspects of the financial services industry, said Neale.   And although research indicates that advisers recognise the levy increases trust in their services, there have been a number of reports indicating that high charges, and volatility in the levy has had a detrimental impact on the sector, with small advisory firms suffering ...