Still fit for purpose? Why the FSCS needs to think radically

How many Financial Services Compensation Scheme (FSCS) staff does it take to change a light bulb? An extra £8.7m-worth next year, a flippant reading of the lifeboat fund's latest budget suggests. Advisers might give an involuntary snort when they see their bill each year, but having a functioning scheme to protect consumers when firms fail is no laughing matter. Time and again, research shows that having a backstop should they need it is what convinces them to get advice in the first place. But fear not for the lifeboat fund's solvency: advisers will be there to lend a hand, as ever, ...