PFS joins calls for policy levy to combat 'unsustainable' adviser fees

The body wants to introduce an explicit fee on investments or policies paid for by the client to bring down the overall cost for firms. Alternatively, it called for regulatory fines, currently collected by the Treasury, to be redistributed to the industry in the form of a regulatory dividend. A reader survey conducted by Professional Adviser's sister title Retirement Planner, showed advisers were in favour of a product levy to fund the Financial Services Compensation Scheme (FSCS). Related reading: Hargreaves Lansdown attacks 'extremely frustrating' FSCS funding model The PF...