FSCS campaign instigator IFA David Penney talks levy reform

After being given just one month to pay a surprise £4,500 bill towards to Financial Services Compensation Scheme's (FSCS) supplementary levy, Penney Ruddy and Winter director and Chartered financial planner David Penney was fed up. He decided to write to both his local MP and the MP in which his business is based, asking for parliamentary attention to be given to the rising levy. His MP has since replied and written to the Chancellor.

Penney's letter gained traction among his twitter followers, and since then Professional Adviser, in partnership with the Personal Finance Society, PIMFA and the adviser community, has launched a campaign to reform the levy - after all, the good guys should not pay when the polluters go bust.  

In this week's podcast, Penney talks to PA's Hannah Godfrey about what he would like to see from a reformed levy, how other advisers can help and whether he believes the Financial Conduct Authority treats advisers fairly.   

There are many ways you can listen to The Pro Adviser Podcast. As well as the embedded Soundcloud player above, you can listen to the podcast - and all our other episodes - through iTunes and Spotify by searching for The Pro Adviser Podcast or Professional Adviser in their respective podcast libraries.

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