The Financial Services Compensation Scheme (FSCS) has failed to increase public awareness of saver protection despite spending £4m on an advertising campaign, its chief executive said at the weekend.
Mark Neale told the BBC that research suggested the campaign had done little to improve awareness of the protection scheme. He said that advertising may not be the best way to reach the public and hoped more information on the FSCS would appear in bank branches and on financial services literature. The FSCS was criticised for spending £4m on an advertising campaign using cash it collects from the financial services industry annually in the form of levies. Part of the money was used to fund a 30 second television advert on the FSCS by Wallace and Gromit creators Aardman Animation. I...
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