FSCS levy should be based on turnover, says IFA

Replying to yesterday’s IFAonline FSCS story and editorial - concerning the rising cost of FSCS levies to IFAs – IFA Andrew Hill of Andrew Hill Financial Services suggests fees based on turnover and complaints might then encourage larger firms to sort out their own practices rather than placing the bill on smaller IFAs. Andrew Hill says: ”It would appear to me that the simplest and most effective way of implementing this levy would be to charge based upon annual turnover bands. “A penalty increase should then be applied for every case where a claim was upheld; this would become a f...