Is Independent Financial Advice Only for the Well Off Now??
It is the classic FSA document – some good things (e.g. upping the qualification of financial advisers) and some that are problematical.
Our biggest concern is that we believe that this review will push the people most in need of financial advice, those with less money, into the arms of the banks and away from proper independent advice.
Given that proportionally the banks have more complaints up held against them for misselling and improper actions we see this as a major problem and maybe the next financial scandal.
We maintain our commitment to giving advice to people who cannot afford fees by setting aside time to undertake pro bono work.
We will be updating our clients about the effect of the changes. If you are not our client and would like to receive these updates please email tracey@investing-ethically.co.uk.
