An analysis of the UK’s consumer investment market declares countless scandals. The examination carried out by the Financial Conduct Authority, disclosed the scams and requested assistance from market experts and players to put them right.
Chris Woolard, the FCA’s interim chief executive, said the consumer investment market has encountered numerous scams. According to him, many clients don’t get proper products and advice; therefore, they don’t trust the investment market anymore.
There’s a challenge ahead of an elaborate consumer market with over 27,000 advisors. The FCA’s 2020/21 Business Plan, which revolves around removing impairment in the investment market, entails an in-depth investigation into the issue.