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Fees overhaul hits registered firms

The editor’s comment of the week

Reaction to FSA plan to overhaul adviser regulatory fees based on a firm’s income

In my opinion, this penalises registered individuals who are prepared to pay for proper dedicated support such as paraplanners and back-office support. Such individuals are prepared to pay for this support to ensure their businesses are run properly yet it would only be turnover that is used as a measure.

Overheads must come into the equation if you were being fair. This could lead to support being withdrawn and services becoming less professional at time when we are trying to do the opposite.

Derek Varty

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