Why well-run advice firms still shoulder an unfair FSCS burden - and what needs to change

For much more than a decade, advisers have warned that the Financial Services Compensation Scheme (FSCS) levy is an unpredictable, uncontrollable cost that hits well-run businesses the hardest. Despite some recent good news, the fundamental challenge - that the levy's design still socialises the cost of poor conduct across thousands of compliant intermediaries -, remains. If we want a thriving advice market that serves consumers, advice businesses, and society as a whole, the funding model needs to be fairer, more transparent, more targeted, and future fit. In its November outlook,...