25th November 2022

Adviser Vulnerability - Snapshot survey results

With the FCA pressurising advisory firms to pay attention to Consumer vulnerability and ensure they are treated fairly in troubling fiscal times, FT Adviser recently highlighted how Directly Authorised Advisers are themselves claiming they are under growing pressure and stress from the Financial Conduct Authority on top of the rising cost of living.

Does the FCA consider adviser vulnerability as it should, or, is just not bothered?

As a result, we asked our community about their own sentiment on Adviser vulnerability to gauge the views on FCA support.

In a very short time we have received 164 anonymous responses, of which we will share with the FCA when the research closes.

Some initial findings show: 

• 87% state the FSCS has a huge/ or significant impact on their financial vulnerability and chances of survival.
• Not one single person believes that FCA fee consultations are genuine, just a box ticking exercise to lead to a pre-determined outcome.
• Only 6% stated that current company morale was positive with 35% seeing morale as negative or very negative.
• 42% have seen a significant impact to their business as a result of energy increases.

We hope you find this of interest, if not actually worrying.

Do you agree with these findings?  If you have anything to add, we are keeping the survey is open below to capture additional feedback until the end of the month.

If you cannot view the survey below, please click here

Create your own user feedback survey

Panacea Surveys, Panacea Comment