Graph: The awkward £1bn question about adviser discipline

This week Professional Adviser published a far-reaching investigation that revealed the tiny percentage of advisers who have faced disciplinary action by regulators and professional bodies in the last six years, despite a backdrop of bad advice that has cost the industry £1bn. The link to the full article is here, but in brief the points it raised were: - Complaints upheld by the Financial Services Compensation Scheme (FSCS) in the last six years have cost advisers nearly £1bn, so £40,532 for every adviser trading in the UK, or £6,600 a year. - In that time regulatory action has be...