Smallest advisers face worst FSA fee hikes for 2008/09

The FSA is proposing the financial services industry contribute an extra 6.9% in fees in the 2008/9 ...

The FSA is proposing the financial services industry contribute an extra 6.9% in fees in the 2008/9 financial year. This increase will be proportionally greater for small adviser firms than large ones, as the minimum fee payable is growing by £200. A firm with only one authorised person will pay 12.1% more under the proposed fee structure for example, but the average increase will be 7.9%. To justify the fee hikes, the FSA said certain areas have been targeted to fund specific initiatives from which they stand to benefit Small firms will benefit from the Small Firms Enhanced Supervi...