Why the FSCS funding move benefits advisers

And not without good reason: advisers have had to shell out millions in recent years to meet compensation claims arising from the failures of businesses they had little or nothing to do with. In the most extreme example, investment advisers were the first to be asked to stump up to meet claims brought about by the collapse of Keydata, even though many considered the company to be a product provider, not distributor. Regardless, successful claims against Keydata were so numerous that advisers were always going to have to pay something towards compensating its customers. This was becaus...