Access to Financial Advice
In 2011 and 2012 many Banks and Building Society's either ceased or reduced access to financial advice. Prior to the 31st of December 2012, according to the FSA, 36,000 financial advisers were registered. Figures out today from industry sources and published by Moneyfacts state only 27,891 have acquired the required accredition called "Statement of Professional Standing" and the FSA is suggesting the industry will shrink to 32,000 registered advisers once all the accreditions are finalised. Quite a sad situaiton for those who have had to move on, but it also means more of the general public have lost access to financial planning advice.