FSA highlights more failings over equity release advice

The lastest report into the quality of advice in the equity release market follows on from the FSA's preliminary findings released in July. The report states of 117 advisers assessed, 62 failed to ask mystery shoppers whether they had existing savings or investments and a further 64 advisers failed to ask about the shoppers preferences for their estate. And 84 advisers failed to ask mystery shoppers what their monthly outgoings were, while 71 advisers failed to ask mystery shoppers about the state of their health and life expectancy. Over half of advisers (73 out of the 117 assessed) fai...