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Talkback

Is DBS justified in raising its fees to cover the cost of N2?

“Yes, with the extra regulatory costs, the money has to come from somewhere. As a firm, we have to sit down and make a decision about what is the best move for us.”

Rick Patmore, Ford Loft Financial Services

“No. Not by the level it has just done. A 30 per cent hike is quite an extreme measure.”

Steven White, Harrison White Financial Services

“No. But the fact that DBS is now owned by Misys means it was inevitable. It was always on the cards because you couldn&#39t have a situation where DBS fees were less than the other networks Misys owns.”

John Hall, John Hall Financial Services

“No. Being part of Misys gives them that extra bit of muscle. But where else can you go?”

Howard Simpson, H&M Independent Financial Advisers

“No. As a member, I don&#39t think the price is justified but I&#39ll have to have a look at it more closely to see if they can put it down to eroding profit margins.”

Steve Reeves, Blake Reeves & Co

“Maybe. It depends on your type of membership and what you use DBS for. If you do your own marketing, have a high retention, your own compliance officer and only use the network to do a sort of audit, then it&#39s not justified.”

Tim Hilditch, PJ Collier Financial Services

“Yes. We&#39ve increased commission and turnover year on year and not gett-ing anything back for it.”

John Reilly, Good Will Financial Services

yes 25%

no 63%

not

sure 12%

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