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Fee only compensation |
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Fee only compensationPayment to a financial adviser of a set hourly rate, or an agreed-upon percentage of assets under management, for a financial plan.Fee only compensation Similar MatchesFull compensationFull compensationPayment for delivery of goods to one party by buying back more than 100 % of the value that was originally sold. Partial compensationPartial compensationIncomplete payment for the delivery of goods to one party by buying back a certain amount of product from the same party. Investors Compensation SchemeInvestors Compensation SchemeA compensation scheme for investors with operating rules set by the Financial Services Authority (FSA). This scheme was replaced by the Financial Services Compensation Scheme (FSCS) in December 2001.The FSCS may be able to assist private investors if the firm with whom an investment was made is fully authorised and has gone into default and cannot pay out claims. No compensation can be sought when investment values decrease as a result of market trends or inflation. The maximum amount claimable under the FSCS is £48,000 which comprises the first £30,000 in full and 90% of the next £20,000. Note: An authorised firm must have satisfied the FSA that it is 'fit and proper' to conduct investment business. A list of authorised firms, known as the Central Register is maintained by the FSA. However members of Recognised Professional Bodies (RPBs) such as solicitors are not included in the ICS and operate their own compensation arrangements. Financial Services Compensation SchemeFinancial Services Compensation SchemeThe Financial Services Compensation Scheme is the sole financial compensatory scheme. It was set up by the Financial Services Authority (FSA) in December 2001, and replaced:Building Societies Investor Protection SchemeDeposit Protection SchemeFriendly Societies Protection SchemeInvestors Compensation SchemePIA Indemnity SchemePolicyholders Protection Boardhttp://www.fscs.org.uk Fee based compensationFee based compensationPayment to a financial adviser of a set hourly rate, or an agreed-upon percentage of assets under management, for a financial plan. When the plan is implemented, the adviser may also receive commission on some or all of the investment products purchased, which would be fee-and-commission compensation. Further SuggestionsCompensationCompensation Fee and commission compensation Deferred compensation Just Compensation Pensions Compensation Board |
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