Questions And Answers

Hi Claire not a silly question! They are paid a salary so why get a bonus or sales commission which knowing the banking culture as we all now do, will only incentivise most to sell highly unsuitable products like PPI and guaranteed income bonds.

This problably goes right to the top where they are all incentivised to sell something and we pay the price if it all goes wrong, just like it did in 2008 with the "discovery" of toxic lending. Maybe someone gets a knighthood if they sell the most

Stop blaming the banks for everything - you have your own mind - read the small print! But if a bank is saying you must have this policy or that policy as part of say a mortgage deal and in reality you don't - well thats different and bad advice or even worse deception.

I agree with Jerome, we have a blame game if anything goes wrong. We all know that the financial institutions are out to take as much money from us in as many creative and confusing methods as they can create. Its our job to read carefully and ask questions.

I think though that there are people out there who really don't understand financial small print and who are vulnerable to slick (and often dubious or worse) selling methods and somehow these people need protecting from the sharks.

My views are the financial services industry is confused. Banks were the people we could try, but they started to become less secure, take more risks and start the hard sell on financial products.

A financial advisor we know he wants commissions on products but a bank, we expected them to be looking after us. They look after our money, they are looking after our best interests, aren't they?

I don't think banks should be able to sell these other financial products. I have found countless instances of shameful actions, whilst not illegal certainly immoral.

for example. setting up of two nil rate band discretionary trusts, trustees were the bank (trustees fee), holding investments (annual management charge)and churning regularly from one bank unit trust fund to another (commission fees). And the client had no idea what they could do with the trust, or all of the fees being charged.

Keep banks for banking. Financial advisors for selling this rubbish!