Small IFAs will carry cost of FSA TCF checks

The assessments will come in the form of hour-long telephone or face-to-face interviews by region. These will be followed up with full-day visits to about a quarter of firms of most concern during assessment. Jonathan Fischel, the regulator's head of investment in its small firms division, says the assessments will cost advisers about 10% to 15% in extra fees as the regulator will require about 25% more staff. Advisers will have to share the cost of the TCF assessments accrued by their fee block (the categories used to calculate a firm's payment to the FSA). It will reveal full fees d...