IFAs will need to find an extra £28m to cover the cost of further levies for the Financial Services Compensation Scheme (FSCS).
The FSCS projects a deficit of £25m for its investment intermediation sub-class, which includes financial advisers. It said this amount would not trigger a cross subsidy on fund managers.
Investment intermediaries will also have to pay a "redistribution levy" of £3m - and investment fund managers of £33m - to cover £71m of credit notes which will have to be issued to firms who resubmitted their tariff data for 2010/2011 after overpaying that year's levy.
The compensation scheme has already levied the investment intermediation sector £66m this financial year.
Total scheme management expenses for 2012/13 are expected to come in £86.67m over budget.
Compensation costs have been higher than the FSCS estimated due to the failure of Pritchard Stockbrokers Limited and Worldspreads Ltd, the compensation scheme said.
Ongoing compensation claims linked to the failures of MF Global, Arch Cru and Rockingham Independent have also pushed up costs.
On Arch Cru, the FSCS said it will review claims in 2015, when the funds' wind-down process is complete, and decide whether any additional compensation is due to claimants, which could be the case if the investments ultimately realise less than is currently expected.
The compensation scheme is still investigating whether it has a role to play in compensating customers of Rockingham who may have lost money as a result of their dealings with the firm in relation to the ARM bonds.
Following resubmission of some 400 fund management and investment intermediary tariff data reports, the FSCS has accepted £71m in levies was overpaid in 2010/2011.
FSCS will be launching phase two of its consumer awareness programme in January 2013.
Chris Hannant, policy director at the Association of Professional Financial Advisers, said:
"A further levy for investment intermediation would be a huge blow for the profession. Given the current economic climate advisers are operating within and the effects of the RDR on adviser revenues, this highlights the need to look urgently at how compensation is raised.
"In considering the current review of funding, the regulator must give paramount consideration to what is affordable for advisers.
"Product providers must also contribute, and we urge the FSA to look again at the introduction of a product levy and pre-funding."
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