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Help us to help you
News article
Publication date:
07 February 2020
Last updated:
25 February 2025
Author(s):
Personal Finance Society
We want to help the hundreds of you who have been talking to us and sending evidence about the problems you face due to the hardening professional indemnity insurance market and increases to the Financial Services Compensation Scheme levy.
The Personal Finance Society has developed a potential solution to these problems that would deliver a sustainable and fairer financial education and compensation strategy, improve consumer confidence to engage in their financial wellbeing while reducing the financial uncertainty for advisers created by the FSCS levy and soaring PI premiums.
We have produced a template letter (PDF) for you to send to your local MP.
This template will allow you to refer to the Personal Finance Society’s solution and raise awareness among more politicians about the problems faced by the profession and how this issue is restricting access to advice for the MP’s constituents.
This is not a generic communication for a letter writing campaign, which would have little impact and just create more paperwork for MPs.
We are encouraging you to tell MPs and other policymakers about what is happening in your community in your own words and giving you the option of referencing the Personal Finance Society’s proposed solution in a clear and accurate way.
Keith Richards, Chief Executive of the Personal Finance Society, is already in talks with the FCA and HM Treasury about this solution.
Please help the Personal Finance Society with our lobbying for change to the way the FSCS and Financial Ombudsman Service is funded and for PI requirements to be overhauled by sharing your experience with your local MP and CCing us in or sending a copy of the communication to us.
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.