Guidance guarantee fee cut to save advisers up to £4m a year - APFA

APFA said the proposal to half advisers' financial contribution to the government's universal free at-retirement guidance offers "a fairer deal" for advisers, who previously feared they would need to pick up 30% of the levy. The Financial Conduct Authority (FCA) outlined in a consultation paper on 27 November it plans to split the levy equally between five fee blocks and give advisers a 50% reduction on their cost.  The proposal would leave advisers to shoulder around 12% of the total cost of the guidance guarantee. APFA said, assuming an annual cost of £20m for the guidance guaran...