The Financial Services Compensation Scheme is forecasting a 20% cut to its levy requirement for 2023/24 thanks to high levels of surplus built up in the current financial year.

Along with 2,500 other people, I was fortunate enough to attend the Personal Finance Society’s long-awaited Festival of Financial Planning this week. 

I suspect most Financial Planners roll their eyes these days when they read on Financial Planning Today about another advice firm declared in default by the Financial Services Compensation Scheme.

The Financial Services Compensation Scheme (FSCS) has blamed poor financial advice for driving up its soaring annual levy.