Making sure financial advice is unbiased
In this episode, I’m sharing a couple of examples of bias when it comes to financial advice, explaining how to recognise it and what you can do to make sure advice is unbiased.
There’s also a roundup of the latest personal finance news and an update from the world of Informed Choice.
Personal finance news update
-Index fund pioneer Jack Bogle has died at age 89. He passed away at his home in Pennsylvania.
-Surveyors have reported the worst housing market outlook in 20 years in their latest survey. Members of the Royal Institution of Chartered Surveyors (RICS) reported a net balance of 28% expecting house sales to fall in the next three months.
-Retired homeowners released £3.6 billion in new property wealth last year as the equity release market doubled in size in just three years. That’s according to new data from the equity release adviser Key.
-The House of Lords Economic Affairs Committee has said that commuters and students are two groups being short-changed by the preferred government measure of price inflation. The Retail Prices Index (RPI) measure of price inflation is used to calculate student loan repayments and some rail fares, and as is flawed as a measure of inflation, according to the committee.