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Broker Talkback

Is it fair that medium-sized IFA firms should face a hike in FSA fees of up to 90 per cent?

Yes 0%
No 100%

No “It sounds like an extraordinarily high increase. Do they present a 90 per cent greater risk than the smaller IFA firms?”

Simon Gordon, Signet Financial Services

No “We already pay substantial fees for regulatory purposes. This is not a proportionate increase to the work the FSA does on medium IFAs.”

Michael Sherrard, Sherrard Financial Management

No “It is an awful lot of money which cannot be justified.”

Richard Simpson, Richard Simpson & Co

No “It is not fair and it will only get worse if we have to cover those who cannot afford it. IFAs are being charged too much.”

Mark Shaverin, Arena IFA

No “It is too big an increase in one go.”

Roger Marx, Freedom Financial Planning

No “Medium-sized IFA firms should not be subsidising banks for the mistakes that they have made.”

Ian Wilson, Ian Wilson Associates

No “It strikes me that we are all having to pay for misdoings of other people. With these big banks, they are talking about many millions of pounds and they want to penalise the small guys who do not really have anything to do with it.”

Alastair Cameron, The Cameron Consultancy

No “I do not think that the FSA plan represents good value at all. The banks should pay more to keep a lid on or even reduce the fees within the heavily regulated IFA sector.”

Graham Legg, Heritage Financial Servicesregulation


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