Nov 23, 2011
Which? slams the banks- use an IFA says thier Director
Category: General
Posted by: tracey
Which? has criticised the banks for the level of financial advice they offer. 37 mystery shoppers went to the banks – 32 given bad advice! Whilst of the six IFAs the consulted four gave good advice. Co-op Bank passed one in three visits. Richard Lloyd Exec Director of Which? Says If in doubt consumers should always talk to an IFA.
We think that 2 out of 6 IFAs giving wrong advice isn’t OK and given the vast amount of compliance that has to be undertaken we wonder how this could have been.
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