Grant Thornton finds most financial ads misleading
Majority of financial advertisement don’t meet FSA standards
Majority of financial advertisement don’t meet FSA standards
The majority of financial advertisement do not meet the standards required by
the Financial Services Authority, mid-tier firm Grant Thornton has claimed.
Research by the firm found that 76% of adverts fell below the benchmark
required by the FSA.
Common problems include advertised interest rates not being available, the
use of scare tactics, untrue claims and the excessive use of small print.
Grant Thornton found significant flaws in 84% of all retail investment
promotions and 81% of mortgage promotions. Insurance advertisements and
promotions fared slightly better with 61% being found deficient.
Ian Gorham, a partner with the firm’s financial markets group, said: ‘These
flaws are driven by intense competition to attract customers, but the UK
financial services industry has had enough recent scandals in areas such as
pensions and endowments, and it is time to adopt the necessary checks and
balances to give investors the correct information.’
The numbers you crunch tell a story. Your expertis...
18yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article