IFAs have become 'low hanging fruit' - Applewood

The company's managing director says the raft of FSA fines in recent months, and particularly the decision by the FSCS to levy advisers for the failings of Keydata, are a testament to his theory the adviser community has become an "easy target" for the regulators. "We [IFAs] are just low-hanging fruit," he says. "An adviser can be fined for the failings of a fund manager and this is not fair. Fund managers always seem to get away with fiddling the system - but they are the people who make or lose money." "We have nothing to do with the failings of some companies. We are not stockp...