Soaring costs pile pressure on networks to maintain charges

Honister Capital and Personal Touch Financial Services have been able to absorb one-off costs at no extra charge to members, but say this policy will be "reviewed" if they continue to mount. Last week, Positive Solutions said it was increasing retention rates for its 1,200 partner advisers after paying almost £2m in levies to the FSCS and seeing professional indemnity insurance (PII) premiums rise 50% since 2009. The Aegon-owned national IFA said it too had previously absorbed these costs on the basis they might be temporary, but it now concedes it can no longer do so. "We did not ...