Sunday, January 3, 2010

FTAdviser.com - FSA staff "woefully" ignorant, says Ukip MEP

FTAdviser.com - FSA staff "woefully" ignorant, says Ukip MEP: "Mr Bloom said financial advice was about relationships - as was family medicine 30 or 40 years ago before things went downhill with group practices servicing ever increasing numbers.
He said consumers did not want to see a sprog from a bank who had qualifications up to his ears but actually knew nothing.
The bank adviser is never around after a few years and the standard of advice is usually mediocre at best, Mr Bloom said, and it was for this reason that retail banks had failed to wrestle financial advice away from the IFA sector."


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Time for IFAs to put themselves forward as being part of the solution rather than being perceived as part of the problem?

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