I have listened to several promotional adverts about the FSCS recently, and the thing I find most annoying is that they are totally misleading. They present the FSCS as a government benefit with no mention of the banks, advisers, building societies, networks and providers that pay for it.
Apart from bringing it into existence and taking the credit, the government has little involvement. As we cannot avoid the cost, it is time that all financial institutions and all advisers promoted the fact that we pay to keep consumers protected, not the government.
Andrew Pritchard
IFA,
Bradgate Financial Planning,
Markfield,
Leicestershire