It always bemused me when Equitable Life was called just that. Synonyms to the name ‘equitable' include fair, even-handed, reasonable, and just. With that in mind, perhaps someone could explain exactly how equitable the Financial Services Compensation Scheme levy is?
Whilst the IFA community continuously works hard to further its expertise and professionalism, we have a separate community who believe the FSCS levy is only fair and just whilst we are supporting their poor advice and inability to run a business. Time after time, we are seeing firms sell inappropriate solutions to customers needs and then fall over, only for the phoenix company to have been set up well before the flames began, and guess what - they are trading again with a completely clean record. To me, it’s a bit like being at sea in a boat and one or two people keep smashing the side ...
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
