APFA urges the FCA to rethink adviser fees

APFA said the proposed fees, which allocated a 10% share to be shouldered by advisers in the 2013/14 budget, were disaligned with the risk the sector posed. APFA director general Chris Hannant said: "Following the implementation of RDR, the risks to consumers from the advice sector have reduced - that was a key objective of the RDR. It seems odd therefore that there has been no corresponding fall in advisers' fees." "The FCA also needs to take account of the fall in adviser numbers we've seen, not least because with fewer advisers now - 25% fewer by the FCA's own measure - less resour...