Adding up the cost
After Swinton other brokers may be facing fines from the regulator says Branko Bjelobaba, but it doesn’t have to be that way
Everyone will have seen the Swinton fine and I am sure there are more to come for many more brokers, unfortunately. Some main products are no longer making enough margin for brokers. With interest rates being so low, client bank account balances do not yield the interest that they used to. This is the background to some brokers being tempted to make up for “lost” cash where they can. But is this treating customers fairly? I very much doubt it.
Brokers all act fundamentally as agent of the client
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