Adviser lobbies MP over 400% regulatory fee hike

Paolo Standerwick, of Sutton-based firm MLP, said his regulatory fees had jumped by 400% in a year. His biggest fee cost was related to the Financial Services Compensation Scheme (FSCS). Standerwick said this should be paid for by all investors via a product levy, rather than financial advisers. He has written to Paul Scully, MP for Sutton, Cheam and Worcester Park, to make him aware of what he brands the "financial abuse" small businesses like his are suffering. "I run a small firm and I have suffered corporate abuse by the whole mad system. Talk to any other adviser and they w...