AIFA demands IFA fee cuts this year

Scott Sinclair
clock •

A new way of calculating IFAs' share of the FSA's annual fees which would see intermediary firms pay a third of current estimates in 2010/11 has been put to the regulator by the Association of IFAs (AIFA).

In its response to the FSA's fees consultation published in February, AIFA has proposed a radical overhaul of FSA funding. Based on the findings of economic group RGL Forensics, AIFA is proposing both a long-term solution for the allocation of the regulator's costs each year and a "stop-gap" suggestion it says is "achievable" before the fee levels are set for 2010/11. Under the second, short-term proposal, with the cost allocation based on firms' profitability, the bill for intermediary firms would be cut immediately from £70m to between £22.7m and £24.6m this year. Under its longe...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA secures money back for victims of £1.5m crypto fraud

FCA secures money back for victims of £1.5m crypto fraud

Obtains confiscation orders against Raymondip Bedi and Patrick Mavanga

Sophia Panayi
clock 28 September 2026 • 1 min read
FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read
FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read