The overwhelming majority of advisers want to see the current Financial Services Compensation Scheme system replaced with a risk-based solution, according to an Aegon UK survey.
It found 81 per cent of advisers have called for this approach while 93 per cent believed that firms involved with riskier, unregulated products should pay more.
Three-quarters of advisers were also in favour of life and pension providers and platform companies paying a greater share of the bill linked to their product types.
Meanwhile 67 per cent called for fund managers to contribute more for claims linked to investments.
Mark Till, chief distribution and marketing officer at Aegon UK, said: “With self-invested personal pension claims last year resulting in £77m of compensation payments, in part due to investments in unregulated collective investment schemes, it’s no wonder there are strong calls for risk based levies.
“Aegon believes the FSCS scheme delivers benefits to all players in the market by increasing consumer protections and confidence.
“This is why we believe both providers and fund managers should pay a greater share of the overall levy bill.”
The poll found that 63 per cent of respondents considered FSCS levies to be unfair.
The survey was carried out with nearly 150 advisers on Aegon’s advisory panel, set up to gather intermediaries’ views following the acquisition of Cofunds.
In December the Financial Conduct Authority launched a consultation on changes to the FSCS levy.
These included reducing the number of funding classes in order to reduce the volatility of the levy.
damian.fantato@ft.com
