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|FCA Release Findings of Thematic Review - Debt Resolution Forum Comment|
|Thursday, 25 June 2015|
The Financial Conduct Authority (FCA) have today released their final report based on the thematic review undertaken on “Quality of debt management advice”. The thematic review took a sample of fee-charging and free-to-customer debt management firms and looked at the quality of debt advice given by each sector.
In summary, the FCA found that advice from our fee-charging industry was of an “unacceptably low standard” and felt that the firms who were included in the sample were not adequately assessing customers’ financial circumstances, which could result in a debt solution being recommended that was not suitable for the customer.
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