IFG must pay £1.08m to the Financial Services Compensation Scheme (FSCS) for its share of the interim levy, with recent acquisition James Hay accounting for £0.94m of this total.
The financial advice and administrative services group expects its full year results to meet consensus forecasts, it says in a statement today. This is despite its companies' FSCS bill, from an industry-wide total cost of £326m, which is needed to cover the cost of major investment failures including Keydata Investment Services and stockbroker Wills & Co. James Hay the SIPP and wrap services provider which was acquired by IFG in March, received invoices for £0.94m of the group's total levy, the statement said.
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