Earlier this year, the Financial Services Compensation Scheme (FSCS) reported the results of an important consumer study they’d carried out – on the role of professional financial advice.
Worryingly, that research found that most UK adults don’t seek regulated financial advice, because they believe it’s “too expensive” or just “for the wealthy”.
Clearly this is not good news, and certainly not so for the advice profession. It also has real implications for any chance we have of trying to close the advice gap.
So, on this week’s IFA Talk podcast, IFA Magazine Editor Sue Whitbread’s guest is FSCS’ Chief Communications Officer, Lila Plebain – a member of their Executive Team.
Their conversation not only delves into the detail of the survey, but also gives real insight into not only some aspects of FSCS’ work that you might not be aware of. It sheds light on why FSCS is so keen to work together with the advice profession to enable more consumers to benefit from properly regulated, financial advice.
Check out the conversation below…