IFAs have reacted angrily to news suggesting they may face an additional £9m bill in the Financial Serivces Compensation Scheme (FSCS) levy for endowment complaints received by the scheme this year.
Geoff Mason, of IFA Mason Associates, says: "I am a small directly -regulated IFA. I remain so because I believe that I can offer my clients the best service this way. I have made a considerable investment in both money and time ensuring that I have the most up to date and compliant systems in place in order to provide freedom of choice for myself and my client. "I have been running my business for five years and have never had a complaint or a claim made against me in connection with endowments of any kind – and yet I will have to contribute to the massive costs involved in meeting the...
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