Majority of financial promotions misleading says Grant Thornton

clock

The vast majority of financial services promotions are misleading, new research from financial advisers Grant Thornton claims.

The firm says 76% of financial promotions fail to meet the Financial Services Authority's (FSA) standards and in some cases are wildly misleading. Grant Thornton reviewed a sample group of 117 financial promotions from 94 financial services companies ranging from newspaper adverts to websites and other literature during the latter part of 2005. It found firms advertising deals or cheaper premiums for headline “grabbing purposes” which were not available in practice with more expensive premiums being quoted when researchers telephoned the companies in question. It also found the use of sc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read