You are here: cherry > Press releases for March 2015 > APFA responds to FCA’s announcement of fees consultation

26 March 2015

Responding to the Financial Conduct Authority (FCA) publishing a consultation on increased fees for financial advice firms in the 2015/16 financial year, Chris Hannant, Director General at the Association of Professional Financial Advisers (APFA), commented:

 

“It is imperative that the FCA get a grip on regulatory fees. It cannot just present the industry with an ever rising inflation busting bill.

 

“APFA’s 2014 report on regulatory costs indicates that direct and indirect regulatory costs represent around 15% of the cost of financial advice. This is a significant cost to the consumer and reduces access to advice at a time that government reforms to pensions make affordable financial advice ever more important.”

 

ENDS