Floodgates open as advisers inundate MPs with FSCS levy letters

Professional Adviser understands many advisers have expressed interest in sending a letter to their local MP about the levy, while tens have already done so. Advisers will face higher levy bills once again this year as the lifeboat fund is set to raise its overall levy to £635m for 2020/21 with advisers set to be collectively billed £213m. This is in addition to a supplementary levy of £50m from the life distribution, pensions and investment intermediation class in 2019/20. The levy remains a point of contention among the sector, with many arguing the current funding model is unfair, ...