In the wake of the latest Association for Professional Financial Advisers (APFA) report, which found adviser profitability down 10% as a result of the FSCS levy, we ask three advisers how regulatory costs have affected their business and what changes they would expect - or like - to see in the future.
* Brooks Wealth chartered financial adviser Andy Brooks says: "We haven't been hit by the FSCS levy yet. We started our directly regulated business Wealth Time in September and have been filling up the war chest ahead of the bills since them. "Advisory firms are all looking closely at profitability and spending as a result of the ever-increasing levy. Most companies are as lean as they can be and any costs that are incurred will come out of profit." * Clarke Robinson and Co managing director Steven Robinson says: "Our turnover increased by approximately 20% so we were able to take a h...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
