Quality of financial advice is polarised, says FSA

Speaking in Northern Ireland yesterday at an Aifa and Ami meeting, Briault told the audience of IFAs: “Iin each episode of mis-selling we see a polarised situation in which some advisers are pushing complex and risky products strongly while others are closer to the ‘I would not touch this with a bargepole’ position”. “Mystery shopping” exercises undertaken by consumer organisations and the media found “worryingly large incidents of poor advice”, he added. While he acknowledges these were based on very small samples, Briault said “the similarity of the results each time cannot easily be ...