Axa Wealth Services (Axa) was today fined £1.8m for giving poor investment advice to elderly and inexperienced customers, even though only 82 people complained. So what went wrong? The Financial Conduct Authority (FCA) found in a review that poor investment advice at three regional branches of Axa’s bancassurance business led vulnerable investors to buy products […]

The Financial Conduct Authority (FCA) has fined Axa Wealth Services £1.8m for failing to ensure it gave suitable investment advice to its customers. The FCA said the firm’s failings put a “significant number” of customers at risk of buying unsuitable products. In addition to the fine, Axa has agreed to contact all customers who may […]