Banks not giving adequate investment advice, says FSA

By Helpful Advice -
The Financial Services Authority has released a press statement about the quality of investment advice given by UK High Street banks.

It  has been reported that the FSA claims that Banks are not giving adequate investment advice. However if you actually read the details of the research it appears that the opposite is true.

75% of the mystery shoppers were given good advice and only 25% were given advice rated as not adequate but out of that only 11% received advice described as bad.

So 90% of customers were not receiving bad advice - surely that is a good situation and a relative success were 90% of customers advice was not bad can be reported as "Banks not giving good avice" which seems to be the opposite of the actual findings!

Comments

Post a Comment

Popular posts from this blog

Concept Capital Group Review - Is it a Scam?

By J Drew -
Image
Investment in Concept Capital Group is being promoted on Facebook and Rightmove to solicit investment in their static caravans for rental to social housing tenants via Social Park Housing. Concept Capital Group are claiming to guarantee rental income of 10% but as investors in London Capital & Finance are fully aware, this sort of guarantee is fully dependent on the company making it still being in business. If the company fails for any reason then there will be no-one to support the guarantee or to return money to investors.  If the company fails your guarantee disappears. Concept Capital Group have only existed since 2019 so have no track record of honouring investment guarantees over the long term. Concept Capital Group Risks - Is it a Scam? Concept Capital Group include a small link to a disclaimer page on their site that identifies the risks involved in their investments yet it is very clear from the reviews posted that investors are not aware of the risk they are taking with
Read more

LCF - Where Are The Assets & People Now?

By J Drew -
Image
Where are the People and assets behind LCF & their agent Surge Financial? London Capital & Finance owned a helicopter purchased by Andy Thomson. LCF helicopter seized This has now been seized and is being held at Shoreham Airport in Sussex. According to the administrators one of the loans of £12 million was to a stables called Home Farm originally run by Spencer Golding but now owned by Sean Cubitt who was unable to provide any paperwork for the purchase of the company or for any of the horses. There were originally 85 horses apparently with a combined values of £15 million according to the owners but when the administrators visited they could only see 35 that had a value of less than £10,000 each. Sean Cubitt claimed that there was no bank account for the company that runs Home Farm. So a company with no bank account was loaned £12 million by LCF. Yet another example of the lies they told to investors about their lending process. We understand that the val
Read more

Hunter Jones Investment Review - Is it a Scam?

By J Drew -
Image
A company called Hunter Jones Investments are advertising on Facebook for bonds that they claim are paying 24% fixed return over 24 months for a managed property portfolio bond. It makes no mention that it is now breaking the law to sell unregulated bonds to retail investors. So is this investment opportunity from Hunter Jones a scam or genuine investment?  Hunter Jones Facebook advert - Is it a Scam? The name makes it sound like you're dealing with a person called Hunter Jones but it's actually a trading name for a company called  Osborne Baldwin Limited.  There is no mention of any risks involved in lending money to Hunter Jones investments - if you think you are putting money into safe savings as per a bank then you are at risk of being misled. Hunter Jones are not FCA regulated. There is no FSCS protection and you could lose 100% of your money if the company you lend money to was to fail. From information online there are unhappy previous Hunter Jones investors who used the
Read more