In the shadows: Are unregulated 'advisers' making easy prey of consumers post-RDR?

Broadly, it is accepted that unregulated advice comes in two forms - from those ‘who don't abide by the rules' and those who ‘purport to be regulated but aren't'. Both categories are a growing concern to the regulated community but it is the latter that often draws in unassuming consumers and muddies transparency about products. It is said these ‘advisers' (who pretend to be regulated) lure people into investing in esoteric products for which they promise larger-than-average returns without properly testing their suitability. Regulated advisers pay levies to ensure consumers have a...