Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Outlook It is impossible to argue with the Financial Services Authority's Sheila Nicoll, who yesterday called for the "rebuilding [of] trust between customer and adviser", as the regulator unveiled reforms of the financial advice market that will take effect at the start of 2013.
These reforms, which include more exacting qualifications for those who give financial advice to the public, the abolition of sales commissions and a new code of ethics, are naturally to be welcomed. But there is a better way for financial advisers to restore trust: stop ripping people off.
If the case of Barclays Bank is anything to go by, the lessons of the mis-selling scandals of the past 20 years have not yet been universally learnt. This week it was fined more than £7m for wrongly advising thousands of risk-averse investors to put their savings into potentially volatile funds, with some cases as recent as 2008.
To be fair to the bank, it simply the latest in a seemingly endless string of financial services companies to be found guilty of a woeful failure to offer decent advice to consumers. Maybe these reforms will finally end this depressing run – but don't hold your breath.
Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments