James Hay warns clients: 'We could pass FSCS levy to you'

The FSCS interim levy for IFG Group, which owns James Hay, is around £940,000 as the industry is billed collectively for the failure of groups such as Keydata. Its letter to clients reads: "In the event of a levy being made on any of the James Hay Partnership companies under the FSCS or any levy or taxation being imposed on us or the IPS product, we may recover from the IPS product an amount equal to the proportion of such levy or taxation that we may reasonably determine." Richard Mattison, business development director at James Hay Partnership (pictured), says: "We have sent a lett...