A premium tax on products and investments would be a fairer way of funding for Financial Services Compensation Scheme costs, according to Tenet.
Keith Richards, Tenet's distribution and development director, said this would be more transparent and fairer than the current model. It would work by charging a percentage of the investment or product contribution.
He stressed it would be an interim measure until a complete review of the industry and regulatory structure was undertaken.
Increasing regulatory reasons are one of the reasons advisers are leaving the market meaning fewer advisers are available to pick up the rising costs. Earlier this year advisers were forced to pay £60m in an interim levy for firms such as Wills and Co, Keydata and Arch Cru.

Mr Richards said: "The current funding strategy is clearly outdated and potentially broken, given the likelihood that costs and liabilities will continue to increase with fewer firms left to carry the burden.
"As an interim solution, we suggest consumers should pay a relative premium which is transparent and would apply to everyone, irrespective of distribution route.
"In a transparent and unbundled world, the consumer should understand the true cost of regulation and the price of the FSCS, which is a form of additional insurance to protect them that would otherwise be fully factored into an adviser's charging structure."
The Financial Services Authority is undertaking a review of the FSCS funding and has issued a consultation document on their plans.