IFAs call for new solution to FSCS funding

Many of those expressing concern about another possible rate increase – see yesterday’s story (FSCS warns IFAs could see further levy rise) - point out they have never conducted endowment business, raising questions again as to who should pay this bill and whether the cost of collapsed firms should fall on the rest of the industry. Neil Kesson of Capital Managers in Glasgow is clearly unhappy by the prospect and asks whether the bill for funding should legally fall on today’s financial intermediaries. ”I am outraged by the threat of an increase to the FSCS levy. I joined the financial fe...