Financial Advice Barriers and Wages
Summary
Moneybox investigates why fewer people are paying for financial advice, highlighting barriers like minimum investment requirements and lack of trust, while offering resources for guidance. The program also delves into the new Labour government's proposals for a "real living wage" and changes to employment rights, including the debate around zero-hours contracts. Finally, it addresses the surge in mobile phone fraud, detailing personal experiences, new security features from tech companies and digital banks, and scrutinizes traditional banks' responses to reimbursement claims.Episode description
More than 9 out of 10 people did not pay for financial advice in the past two years and that number is growing. The figures come from surveys by the financial services consultancy The LangCat. It found the proportion of people paying for financial advice fell from 11% of adults to 9% between this year's report and one they did a year ago. We'll hear from them about the reasons behind it.
What will the new government do to change employment rights and wages? We’ll discuss the potential new employment bill ahead of the King's Speech.
And the new security measures people can take to protect themselves from mobile phone fraud. This is when people's phones are stolen not for the value of the physical handsets but so criminals can try to access the financial apps stored on them to steal hundreds or, often, thousands of pounds from victims.
Presenter: Paul Lewis Reporters: Dan Whitworth and Catherine Lund Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 13th July 2024)