If you thought I was making this stuff up, here we go again, but a day later yet another client-advised-to-invest-pension-in-non-existent-property-scheme story. The never-built property was supposedly in Brazil; why would you ever touch it with a bargepole? Beats me, but it’s likely, as the adviser’s company is now in liquidation, that ‘the liabilities incurred following the complaint will fall onto the Financial Services Compensation Scheme’. So we’ll be coughing up on her behalf.
“Worry for profession as young adviser numbers plummet”
There are around 31,000 advisers currently authorised by the FCA to give advice. Of these only around 6% are under 30 and 84% of all advisers are male. There are 209,000 solicitors, 7,000 young ones enter the profession each year and 52% of all solicitors are now female.
