Lakey warns of consumer power after N&P ruling

Last week, Norwich and Peterborough (N&P) was ordered to pay £28,000 to an elderly couple caught up in the Keydata collapse. But Adviser Alliance founder Lakey (pictured) says the ruling demonstrates how the scales of justice have been tipped in favour of consumers who should take more responsibility for their actions. "I have sympathy with N&P - you cannot say any adviser should carry the can for a company going bust," he says. He adds the investment was not necessarily bad from the outset and plans which might have been "on course went off course". According to Lakey, regulato...