Panacea: action must be taken on the FSCS levy

Derek Bradley, chief executive of Panacea Adviser, said the FSCS' current funding model is "unfair, unpredictable and creates a very real financial hazard to smaller adviser businesses". He said it also places consumer confidence expectations and advisers' ability to pay "at loggerheads". "The potential inability to pay ever increasing, often unexpected and unfair levies going forward will see many more firms put out of business into default," said Bradley. "This post-RDR landscape will see many more firms being unable to meet the growing and unpredictable demands of the FSCS [as w...