Compensation Scheme Fees Up 1000%
Published / Last Updated on 30/03/2009
Compensation Scheme Fees Up 1000%
Investment adviser firms such as Need An Adviser, have received a sharp shock in the post with levies payable to the financial services compensation to make up for failures of banks and investments companies have been increased by up to 1000% and in thousands of pounds.
Need An Adviser Director, Ashley Clark, commented: “This is a disgusting levy on good, ethical, family businesses like ours. We are paying not just as tax payers, alongside every other tax payer for the bad management of bonus and commission hungry companies, we are also having to pay for failed businesses such as badly managed stock brokers who have been using high risk investment schemes resulting in compensation schemes”.
He added: “We are not even authorised as a stockbroker, yet we have to pay for their mistakes”.
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