When stories of alleged financial advice failings make their way into the public consciousness, they risk being “really damaging” to the reputation of trained financial advisers who are meeting regulatory standards, professional body representatives have said.
Their comments come after a BBC documentary was released on a group of former Premier League footballers who said they suffered significant financial losses due to the actions of their financial advisers. The London Institute of Banking and Finance (LIBF) director of financial services John Somerville highlighted that instances like this are "thankfully rare", but these kinds of stories can be "really damaging" to the reputation of trained financial advisers who are operating within regulations. "The financial advice sector is full of qualified professionals, who are highly trained in...
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