Advice offered by high street mortgage lenders and estate agents could be "very dangerous" as it usually only gives simplistic universal solutions, says LifeSearch.
The protection specialist's warning is made in response to a report published yesterday by the Consumers' Association, suggesting poor advice and dubious sales tactics are widespread in financial advice. At the same time, however, 'mystery shoppers' from the CA looked only at advice delivered by tied agents of banks, building societies and estate agents, rather than IFAs. Agreeing with parts of the report, LifeSearch warns advice which offers consumers simple and blanket statements which recommend one type of solution can be very dangerous. This is because each individual’s circumstan...
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