Local MP backs planners’ FSCS levy fight

Sheffield-based Financial Planners Belmayne have enlisted their local MP to help them fight rising FSCS levy costs which have seen the firm hit with £2,000 bill increase.

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Planners lose confidence in ability to secure PI cover

Less than a quarter (17%) of financial advice and wealth management businesses feel confident about their ability to secure affordable professional indemnity insurance (PI), according to a new report.

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FSCS compensates 258,000 customers of failed firms

The FSCS paid over 258,000 customers who had suffered losses from 874 failed financial services firms in 2019/20, predominantly using levies from over 49,000 regulated firms.

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PIMFA welcomes FCA comments on FSCS levy

The wealth manager trade body PIMFA has said it is encouraging to see the FCA chairman acknowledge that the FSCS levy is at an unacceptable level.

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