The Personal Finance Society (PFS) has called for a complete overhaul of the Financial Services Compensation Scheme's (FSCS) funding to solve the profession's "over-reliance" on professional indemnity (PI) insurance.
The professional body's chief executive Keith Richards said the lifeboat fund was designed at a different point in time and has become "unfit for purpose". "Well-intentioned as it is… [the FSCS] has...
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