Copy article

FCA sets out plan to tackle 'investment harm'

ended 15. September 2021

This morning, the FCA set out a plan to tackle 'investment harm'.

It published a new strategy aimed at giving consumers the confidence to invest, supported by a high-quality, affordable advice market, which should lead to fewer people being scammed or persuaded to invest in products too risky for their needs.

We sought the views of three financial advisers….

3 responses from the Newspage community

Copy all

Star Quote
Copy

Graeme Inglis
Director and Chartered Financial Planner at Poise Financial Planning
"This is a positive move by the FCA, particularly for younger clients who may not be aware of the risks associated with higher risk arrangements. Educating and helping younger investors make the correct decisions is vital to a flourishing financial advice marketplace."
Copy

Joshua Gerstler
Chartered Financial Planner at The Orchard Practice
"It is good to see the FCA trying to protect consumers. Unfortunately, there are always going to be unscrupulous individuals trying to take advantage of people and unfortunately a lot of them are going to get away with it. The most pleasing aspect is that the FCA are recognising that cash is not the best place for people to leave their money for long-term growth and that they want to encourage people to invest safely."
Copy

Lena Patel
Founder at ISJ Independent Financial Planning
"Providing a high quality, affordable advice market comes at a cost and the FCA needs to recognise this. With an ageing adviser population, this gap is going to widen and we need to encourage more people into the profession. Advisers need to be supported by the FCA and the press to share good news stories, and to encourage consumers to seek reputable IFAs to support them to make informed decisions with their financial planning. This will reduce the risk of consumers being targeted by scammers."