IFA comment: 'Complainants should pay Fos case fees'

In response to today’s article, many IFAs say they agree with the Pfs proposal but they also suggest complainants should pay the case fee where the adviser is found not guilty. Frank Roberts of Kingsland Financial Management in Bristol states: “I totally agree with the Pfs. If the IFA is not guilty he shouldn’t have to pay anything. Perhaps if the public realised there was a cost involved to them they may be reluctant to claim for the sake of complaining.” Likewise, Stephen Pollard of Pollard and Smiles in Northumberland argues advisers should not pay fees when they are innocent and sug...