Why should IFAs pick up the tab?

Advisers would not mind compensating investors for their own mistakes in the selling of precipice bonds but it is unfair to expect them to pay for other IFAs' actions

Let me start with a very simple question: How many times will the IFA foot the bill for transactions that went wrong and they had nothing to do with? I am sure there are many challenges and concerns facing advisers at the moment. Not least is the fact the investor is still probably a few years away from regaining confidence. Many brokers must also be concerned whether they have sold precipice bonds in a fully compliant way, so you could excuse them for not looking at the wider picture. I think any IFA who has mis-sold a precipice bond would not mind having to put his hand in his pocket ...