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Arch cru shows why new thinking needed on FSCS

Editor’s comment of the week

Response to last week’s online editor’s view, Arch cru fallout highlights FSCS broken model

This highlights why Mark Hoban needs to put his thinking cap back on and sort out the mess that is the FSCS and its funding arrangements.

It is simply not good enough for him to say they have thought hard about FSCS funding but cannot think of a better solution. The Arch cru debacle is one in an increasingly long list of failures that have affected the adviser community disproportionately.

Not only are surviving firms having to shoulder more cost and responsibility, so are clients through increased costs of advice.

Dennis Hall

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