The Financial Conduct Authority (FCA) are very concerned about the number of so called “vulnerable customers” in terms of the provision of financial service. The numbers have increased significantly as a result of lockdown. But what are vulnerable customers? Here are some facts and figures (based on the FCA’s Financial Lives Survey 2020): 46% of […]
There seems to be news about cryptocurrency developments almost daily, so we thought we’d better add more to our news section to keep you up to date. You can read our previous posts here to catch up. The latest news comes from the Boring Money Advice Survey 2021. According to the survey, almost 10% of […]
Perhaps it’s not surprising to see that the number of complaints has risen sharply over the last 12 months. Annual data released by the Financial Ombudsman Service (FOS) showed that complaints about pensions and investments had risen by 91% in 2020/21. The number of overall complaints stood at almost 21,00 from a total number of […]
Read More… from Number of complaints is on the rise again after lockdown.
Last week the FCA announced plans to “consult” on banning what’s being called “CMC Phoenix-ing”. That’s the practice of former employees or more likely directors of advice companies, joining, or forming CMCs in order to claim compensation from the FSCS for their own previous financial mis selling. Sounds complicated doesn’t it. But in reality its […]
Read More… from More crackdowns on Claims Management Companies
We’ve been looking at scams for some time now. Identifying the more common ones and publishing the information to try to get the details out into the public arena. If you look at our posts we’ve particularly looked at rules to apply when you get contacted either by e mail or text. The general rule […]
No, this is not one of those stories you see online promising the earth. This figure is based on the latest research from the Bowmore Group. They looked at the compounding effects on savings and worked out that (using a 10% compounding formula) that an 18-year-old would build up a £1 million pension pot if […]
Read More… from How to become a millionaire by saving £1.71 a day!
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