Investment fund advertising is as bad as promoting cigarettes or alcohol and should either be banned or accompanied by a health warning, Succession Advisory Services' Simon Chamberlain says.
The CEO of the business consultancy, which last year unveiled its Investment Matrix to provide its members' investment solutions, says there are still too many advisers selecting funds and picking stocks in a bid to meet their clients' financial goals. Chamberlain says fund advertising regularly quotes past performance and can send a misleading message to consumers. "They are the equivalent of tobacco adverts," he says. "They should read: 'this could kill' [your investment] and be banned in the same way cigarette advertising has been. They can both induce unnatural behaviours." Suc...
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