Probe uncovers 'poor' free equity release advice

A mystery-shopping investigation by Which?, which consisted of 22 visits to firms, found only a single case of 'excellent' advice. Four advisers failed all its tests, although it would not identify them. The advisers questioned by Which? comprised tied and multi-tied intermediaries as well as some independent advisers and one charity. All the services were provided free of charge. The benchmarks set by Which? included the provision of information on status and fees, adequate fact finding on income, debt and savings, and advice given on the types of scheme on offer. A total of 12...