Tenet: FSCS funding plan threatens IFAs and consumers

The IFA support group said the current set up could cripple adviser firms and could ultimately undermine the regulatory and compensation scheme foundations. It added it was disappointed that after three years of planning "a better and fairer solution had not been offered", especially as many IFAs were expecting business levels to drop post-Retail Distribution Review. Tenet said the impact of increasing costs on a reducing industry population will reach a crisis point if not addressed, which it added, was likely to be further compounded by the increase in claims management companies. ...