The case for the defence, m’lud. Firstly, less than 10% of Brits actually use a financial adviser. So for most, it’s a bit like saying they don’t eat snails, which they’d probably quite like if they tried them. And secondly, this puts us well ahead of estate agents, distrusted by 73%, journalists (including the one who wrote this, I imagine) 77%, and politicians, 85%. Nurses are trusted by 93% and teachers by 85%, so, yes, have a way to go. Might help is we get of the 90% who are not yet clients on board, guys.
“Advisers fearful of further compliance and regulation”
We know, of course we know, that regulation is, or at least should be a ‘good thing’. If those who need or should seek advice can be confident that they’ll be told the right thing, that someone has looked at those ’too good to be true’ investments before they’re allowed to take your money; or, in the case of a Woodford, while they’re raking it in to make sure it’s going where it’s supposed to.
