Managing my financial journey
Managing my financial journey

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Managing my financial journey

4.5 Week 4 and course round-up

Martin concludes the course by reviewing the subjects and issues covered.

The financial services industry will continue to change and evolve in coming decades as will the way it is regulated.

Consumers should expect to deal with trained and professional staff at the financial firms they do business with. They should also expect that financial firms are properly regulated and that product selling is subject to appropriate safeguards for their customers.

But the fact is that to make best use of the financial market place requires education to ensure that consumers make knowledgeable and effective decisions.

We do hope that Managing my financial journey has helped to put you in that position.

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Transcript

MARTIN UPTON
We have now reached the end of Managing my financial journey.
We began by sweeping quickly through the history of the financial services in the UK and looked at the key social, economic and technological changes that have shaped its development. We finished Week One by examining in detail the financial crisis of 2007/08 - a crisis that has had a huge impact on the industry.
In Week Two we examined how the financial services industry looks today and at how the fall-out from the financial crisis has altered the way financial firms are run. The key aspects of the restructuring of regulation were reviewed and we examined a number of topical subjects including the pay day lenders, hedge funds and internet comparison sites.
In Week Three the focus turned to financial services products - bank accounts, loans, mortgages, savings and investments, insurance and pensions. The emphasis was in exploring current issues and developments in respect of these products.
In this final week of Managing my financial journey we turned to the subject of regulation - an aspect of the financial services industry that has undergone a vast overhaul since 2010 as a result of the perceived failings of the regulatory framework that contributed to the financial crisis.
We looked at how financial firms are regulated and the responsibilities of the different regulatory bodies and at how financial product sales are regulated. We also examined how consumers are protected through the complaints and compensation aspects of regulation.
So we have now completed the journey around the financial market place, examining its history its current structure and key players, the variety of products offered to consumers and how the industry and its practices are regulated.
I really hope you have enjoyed the course and the journey.
Goodbye.
End transcript
 
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