IFA levy costs to fall 8% in 2010/11

In its regulatory fees and levies proposals, out today, new minimum fees of £1,000 will also benefit those firms that only pay the minimum, with their costs down by 45%. However, just 4% of IFA firms currently pay the minimum fee. The FSA also proposes cutting the amount advisers in the A.13 fee-block are charged. The A.13 fee block, which covers mainly IFA firms, will account for 8.8% of the FSA's total funding in 2010/11, compared to 10.5% in the current financial year. The firm types hit hardest include A.18 - home finance and mortgage brokers - which will see total fees increa...