PosSol rethinks leavers' fee rule after partner uproar

Chief executive Jim Reeve has written to advisers saying he wants to ensure any new directive is "fair and appropriate". On 31 March, the Aegon-owned national IFA notified its 1,250 partners of an increase in retention charges from 1 July and announced a new approach to leavers, with effect from 1 April. The new approach would see exiting advisers invoiced for their share of the company's regulatory costs for up to the next 12 months. Reeve said the directive was necessary because it currently pays FSCS and FSA fees, as well as PI premiums, up to a year in advance and it needed to ...