I was very pleased to read the following article http://www.moneymarketing.co.uk/regulation/fsa-to-end-aggressive-bank-sales-structures/1057265.article If salesmen and women at the large institutions placed the needs of their client first, the remuneration structure would irrelevant. The most effective way of mitigating dishonesty and salespeople placing their needs above the needs of the client, is to have an aggressive system where with the help of the Financial Ombudsman Service, salespeople who have been found to have miss-sold and placed the needs of their client second are investigated and if found to be negligent or unfit are disciplined personally as well as their employer for inadequate oversight. If so called ‘advisors’ in the large banks were had the same level of integrity as British Independent Financial Advisors there would be significantly fewer miss-selling cases.rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.rn
