Adviser fee-blocks could be merged in the 2011/12 financial year, with potential cost implications for IFAs.
The FSA says it will consult on whether to merge fee-blocks A12 (arrangers who hold or control client assets such as discretionary managers), A13 (IFAs) and A14 (corporate financial advisers) in the autumn. It means advisers could potentially pay more than they would normally do in 2011/12 if firms in A12 and A14 are subject to significant FSA activity in the coming financial year. The FSA says it is continuing to discuss the issue with stakeholders and expects to publish a detailed consultation paper later this year. A spokesman makes clear the merger is in no way " set in stone". ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes