AIFA applauds changes to FSCS charges

The trade body says last week's regulatory costs overhaul, which could save firms up to 617%, is very good for the vast majority of advisers. AIFA deputy director general Fay Goddard said the association has campaigned hard for FSCS reform and is pleased with the outcome. "The new model creates a fairer distribution of costs across all parts of the financial service industry and provides better levels of consumer protection," she said. "Last year firms in fee-block A13, where most IFAs fall, paid around £1,290 per adviser to meet FSCS costs. "Under the new structure, according to t...