Advisers befuddled over huge levy increases

Some fees up 115%

Hannah Godfrey
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“They talk about treating customers fairly and the impact of clients, and they don’t show any regard for people who pay their fees and levies" - Engage FS's Sam Sloma.
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“They talk about treating customers fairly and the impact of clients, and they don’t show any regard for people who pay their fees and levies" - Engage FS's Sam Sloma.

In the last week advisers have seen their annual regulatory bills shoot up to new heights. The Financial Services Compensation Scheme (FSCS) levy appears to be to blame, but adviser increases do not seem to match up with levy projections published earlier this year.

Advisers have reported increases of upwards of 50% on their annual regulatory bill, which many received this week. The regulatory bill is the total invoice that comes from the Financial Conduct Authority...

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