Adviser compensation approaches £1bn mark

In a post published on 6 November the scheme said since its inception in 2001 it has paid out more than £975m to 165,000 clients of a total of 2,391 failed financial advice firms. Overall the FSCS helped 4.5 million people, paying out £26bn in compensation. Insurance accounted for more than £1bn. Chief executive Mark Neale said the scheme has reached a "major milestone" in insurance compensation. He said: "FSCS is there for consumers who have nowhere else to turn. Our message to people is simple: FSCS protects your insurance, investments and deposits. We're here for you." The FS...