Clients of collapsed advice firm to have claims examined December 20, 2024 Claims from the collapsed advice firm Tenet will be investigated by the Financial Services Compensation Scheme (FSCS) at the start of next year. Earlier this year, the firm’s administrators said 9,645 clients were “considered as being at higher risk of having received unsuitable advice”. Tenet, which billed itself as the largest independent financial adviser network [...]
FCA boss: Watchdog’s mindset ‘is changing’ on financial advice September 24, 2024 The Financial Conduct Authority (FCA) has said its “mindset is changing” as it attempts to make financial advice more accessible to consumers. The watchdog is aiming to shift the way it regulates to take a “more outcomes-based approach”, said Sarah Pritchard, executive director of markets and international at the FCA, in a speech today. With [...]
Lack of financial advice holding back 24.6m people across the UK September 12, 2024 A new report from St. James’s Place has suggested as many as 24.6m people in the UK are missing major life goals due to a lack of financial advice. The figures, from one of the UK’s largest wealth managers and advice providers, were published as the first part of a survey of just under 12,000 [...]
Financial advisers are getting old. What happens when they retire? July 23, 2024 With the average age of a financial adviser rapidly approaching 60, the industry is preparing for a reckoning as they frantically attempt to replace those departing.