The vast majority of advisers want to see the Financial Conduct Authority (FCA) introduce a risk-based solution for funding the Financial Services Compensation Scheme (FSCS), according to a survey undertaken by Aegon.
Polling 150 advisers from its advisory panel, Aegon found 81% were in favour of a risk based solution, which would vary levies in line with the risks the firm is exposing the FSCS scheme to.
An overwhelming 93% believed firms dealing with risky unregulated products should pay a higher share of levy, including advice firms.
The FCA is currently collecting responses to its consultation on how to reform the way the lifeboat scheme is funded, contemplating both higher provider contributions and the idea of levying fees based on risk.
Three-quarters (75%) of the advisers polled by Aegon also supported the idea of life and pension providers and platform companies paying a greater share of the levy linked to the types of products they sell.
Two-thirds (67%) called for fund managers to contribute more for claims linked to investment aspects. The majority (60%) of advisers said they were concerned about both the level and volatility of the annual levy.
The FCA said it recognised the burden of funding the FSCS did not currently fall equally on product providers and advisers. It was therefore looking to introduce product provider contributions towards the cost of claims involving advice firm failures, "reflecting the wider responsibilities of product providers in the process."
It was also considering whether firms should pay a premium on FSCS levies if they distribute products the regulator considers to be 'higher risk'. It said its aim was for those most likely to incur the costs for the FSCS to bear the greater proportion of the funding cost.
Aegon chief distribution and marketing officer Mark Till said the consultation was a "real opportunity to improve the sustainability of the intermediary sector.
"The FSCS levies are clearly an area of concern amongst intermediaries and there's a real strength of feeling coming through."
He added: "With SIPP claims last year resulting in £77m of compensation payments, in part due to investments in unregulated collective investment schemes, it's no wonder there are strong calls for risk based levies."
The regulator's consultation on the FSCS is due to end this week, on 31 March.
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