CA undercover ops slam financial advisers

Posing as first time buyers, the Consumers Association’s operatives found that just one out of 39 advisers approached about protection needs received the appropriate advice. Only a third of those approached actually bothered to calculate how much the client(s) could afford in premiums, while the majority recommended cover that was not needed, the CA says. In addition, few advisers explained what was covered by the critical illness or income protection plans they were recommending. Two advisers resorted to telling stories of cases of cancers affecting their own families or friends i...