FSCS
FSCS backtracks on UK advice firm failure
After the lifeboat service said investors could be eligible for compensation
UK advice company fails
Months after it received an asset retention requirement from the FCA
UK lifeboat scheme reduces 2021/22 levy to £833m
Lower forecast sparked by delays in Sipp claims and extension of government support for businesses
Just 12% of UK retirees have taken advice from an IFA
As 20% said they considered riskier pension products for the higher rate of interest
Advisers worried higher levies will hurt clients
And impact their profitability as current climate is seen as unsustainable