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Do you support FSA plans to levy regulatory fees on IFAs based on turnover rather than the current system of number of RIs?

“It depends on the figure, if it&#39s cheaper then I would support it.”

Eric Rushton,Powsney & Co

“In principle, I do support it but it depends on the structure and how it will affect me personally.”

Andrew Robertson, Robertson & Co.

“Yes, basically I am not against the idea as long as the FSA does not gain significantly more income as a result of it. I am all for a more equitable system that helps smaller firms survive.”

Mark Walker,North Riding Financial Services

“I don&#39t know. We will not know until we see the actual amounts they are going to charge. But if it means that small IFAs pay less it is a good thing.”

James Turvey,WH Dowle (Life & Pensions)

“No. I have just received my mortgage regulation details and am being asked for £500 for that, yet I don&#39t see why I should have to pay that.”

Steve Morgan,Morgan Phoenix

“No. For investments,I cannot understand how fees can be related to income. If you are a long-established business with recurring income, why should that determine your regulatory fees?” Alan Nedas,Alan Nedas Associates

“It may well suit some people and not others.”

Craig Young,JC Roxburgh & Co

“Yes. Low-turnover people should pay lower fees, especially sole traders.”

Paul Freedman,Paul Freedman Independent

yes 25%

no 25%

Don&#39t know 50%


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Another regulator for pension rescue

A new pension regulator will form part of the pension protection scheme aimed at covering company schemes that have folded. The Queen&#39s Speech last week set out plans to step up efforts to educate the public on pensions, including a website giving consumers access to details of their likely state pension entitlement. From 2005, employers […]

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Independent insurance analyst Ned Cazalet believes the time has never been better for giving independent advice. In his Life 2003 report, Cazalet says an increasingly older and wealthier population means that, despite difficulties such as increasing regulatory costs and falling commission levels, there are great opportunities for IFAs. However, he says many IFAs have been […]

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