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Make your voice heard on fee rises

The Association of Independent Financial Advisers and the Association of Mortgage Intermediaries are calling on all members to submit responses to the FSA’s 2009/10 fee proposals.

The regulatory fees strategy group, set up by the trade bodies to lobby against the fee rises, has issued a briefing on key points to highlight the issues members should cover in their responses.

Aifa and Ami director general Chris Cummings says the FSA must cut charges for intermediaries. He says: “If this means other, higher-risk business models in other fee blocks pay more, so be it. Those who have caused the crisis should pay more. If these proposals go through unchecked, IFAs and the wider mortgage intermediary community will have been unjustly penalised for the failure of others.

“It is essential that the intermediary community speaks with one voice on this issue. There has never been a more important time to stand behind your trade association and help us to fight on your behalf.”

Cummings says the FSA should spend the next 12 months reconsidering its funding model under a full-scale review.


Funds yield to sector switch

Advisers believe more funds are likely to move across to the newly launched IMA UK equity income and growth sector as the search for yield gets tougher.


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