I am afraid the lies and deceit of cold-callers selling financial products have got to such a stage that at the very least cold-calling needs to be treated the same way as any financial promotion, and any action for breaches need to be taken swiftly and effectively.
If not, the only alternative I see is to outlaw cold-calling for financial products altogether.
Recent calls I have received for pensions include a claim to be regulated by the FCA – on delving they said they had applied for interim permission as a credit broker – and one where I was put through to one of “our lovely regulated financial advisers” to discuss a guaranteed product. When I was put through and I asked for his FCA number he confessed to not being authorised at all.
Wensum Financial Planning,