Ken Davy: Officially advisers are the Good Guys
09 Mar 2016
With the ombudsman finding cases largely in favour of advisers, it is a worrying trend when the High Court overrules such decisions.
As a youngster, my big treat of the week was a trip to the local cinema for the Saturday matinee.
In those days, unlike today, you always knew who the bad guys were, as they were the ones in the black hats, the good guys wore white hats.
Unfortunately, today when it comes to Fos trying to figure out who the good guys are, they do not have the luxury of looking for the ‘white hats’.
Nonetheless, the latest Fos report gets pretty close to defining the ‘Good Guys’ which, I am delighted to say, is the IFA sector. Fos received 329,509 complaints in 2015, of which only about 1 per cent were for IFAs.