PIMFA survey highlights soaring FSCS fees and adviser distrust in scheme
Levies up more than 100% in five years
Almost two-thirds (64%) apparently did not trust the lifeboat fund to deliver fair outcomes for consumers or firms.
More than four-in-10 PIMFA member firms have seen their Financial Services Compensation Scheme (FSCS) levy rise by more than 100% in the last five years, according to a survey by the advice and investment trade association.
On top of that figure, the majority (82%) the 84 chief executives or business owners of PIMFA (Personal Investment Management & Financial Advice Association) member firms said FSCS costs accounted for...
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