Banks 'give poor investment advice'

AOL Money Staff
Piggy bank smashed
Piggy bank smashed

Many high street banks and building societies are offering poor advice and recommending inappropriate investments, an undercover investigation from Which? has concluded.

Researchers, who were all experienced investors aged over 60, found that only five out of 37 advisers in banks and building societies gave what they termed "good advice", while the majority of advisers showed a poor understanding of the risks and made misleading statements.