Can you trust a financial adviser?

R. Tscherwitschke/DPA/Press Association Images

Financial advisers don't have the best of reputations. From the high profile mis-selling scandals, to equally high-profile scams, clearly there have been some shady characters causing consumers a great deal of heartache.

The authorities have been wrestling with the dilemma of how to protect consumers for well over a decade. They think they have finally found the solution. However, there is one big drawback.

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