Smaller firms paying disproportionately high PI premiums - FCA
£4.5bn revenue earned from advisers
Smaller financial advice firms are paying proportionally higher professional indemnity (PI) insurance fees than advice giants, according to the latest Financial Conduct Authority (FCA) bulletin.
The bulletin, published on 7 June, showed advice firms with annual revenues of less than £100,000 paid on average £2,412 in PI per firm, equating to an average of 4.2% of the firm's revenue. Meanwhile,...
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