FSA adviser fees only rise by 5%

The rise in fees faced by advisers is still higher than that for mortgage brokers, despite major problems in the sector. Publishing its final fee statement for the current financial year, the FSA confirmed it will need to raise its total income from fees by almost 36%. Deposit acceptors, including banks and building societies, will face the biggest increase in fees, up 109.4% across the A1 fee group. Financial advisers in the A13 fee block will see fees rise, though by much less than the 15% increase originally proposed by the FSA, up 4.8%. However, mortgage brokers will only face a...