The Silent Epidemic: Financial Mis-Selling and the Stigmatisation of Victims
Steve Conley
Founder of the Academy of Life Planning & Planning My Life | Championing Values-Driven Financial Planning | Mentor to Independent Planners | Author and Advocate for Meaningful Change
Financial Service Victim Support Group: Finding your own path to a Rejuvenated sense of Purpose, Passion and Possibilities!
For decades, victims of financial mis-selling by FCA-regulated advisers have been ignored, dismissed, and even vilified. Instead of receiving the justice they deserve, they are treated as an embarrassment to the system—ostracised, gaslighted, and accused of tarnishing the financial services industry. This is not just an isolated issue; it is an epidemic and a national crisis of systemic failings.
The Regulatory Illusion of Protection
The Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS) are often presented as safeguards for consumers. However, these bodies only intervene when a regulated product sale has already gone wrong. They do not provide proactive protection—only post-sale redress. Meanwhile, the Financial Conduct Authority (FCA) has actively weakened consumer rights by:
Advisers wear their regulated status as a badge of honour, but in reality, it is a GPS ankle tag—an monitoring device ensuring compliance with an outdated and inadequate system. Regulation does not equate to ethical conduct, yet the financial establishment uses it as a shield to deflect accountability.
Captured Regulation in Action: Cutting Red Tape at the Expense of Consumers
A glaring example of captured regulation emerged in the FCA’s recent announcement that it is "moving at pace" to cut red tape and reduce regulatory burdens on financial services firms. Under the guise of promoting business growth, the FCA is prioritising deregulation over consumer protection. This shift includes removing critical oversight mechanisms, such as the Consumer Duty Board champion requirement, weakening the safeguards meant to hold firms accountable for fair treatment of clients. While streamlining regulatory processes can have benefits, the FCA’s eagerness to dismantle protections without strengthening consumer rights raises serious concerns. It exemplifies how industry influence shapes regulation to serve corporate interests, while victims of financial mis-selling continue to be ignored.
The Denial of Victims’ Existence
Despite thousands of individuals suffering devastating financial loss, the industry gaslights those who speak out. I am repeatedly told that financial mis-selling victims are a myth. Yet the reality is clear: regulatory failings have allowed incompetence and unethical behaviour to flourish, harming countless individuals.
When I raise these concerns, I am branded a pariah—rejected and shunned by the financial services industry for exposing the truth. The captured regulators provide firms with endorsements and assurances, even in the face of evident failures. This systemic cover-up protects market participants, not consumers.
A New Path: Empowering Victims
Victims of financial mis-selling deserve more than token compensation. They need a support system that goes beyond financial redress, offering:
This is why I am launching a Financial Service Victim Support Group, offering guidance, empowerment, and a renewed sense of purpose.
Financial Service Victim Support Group: Finding your own path to a Rejuvenated sense of Purpose, Passion and Possibilities!
This event has been specially conceived and created for individuals who have been victims of any kind of scam, scandal, financial crime, fraud or injustice. TTF’s experience of dealing with hundreds and hundreds of people like that, through the perhaps thousands of conversations we have had has helped us understand just how traumatic the experience for them has been.?
And, through our collaborative, campaigning community’s loss of?Ian Davis R.I.P?and the detailed understanding of the catastrophic regulatory failure that led to his passing, we are hyper tuned into understanding what the worst outcome can be.?
This event is about bringing ideas to the table for victims to consider implementing; ideas designed to help them see a future of fresh possibilities and a renewed sense of hope. We want to do all we can to provide a sense of comfort and community; a sense of renewed agency.?
All we ask is that everybody and anybody that has been a victim attend our meeting with an open mind and a willingness to consider turning a mindset of victimhood into a mindset of possibilities.?
The session is going to be run by Andy Agathangelou, plus?Steve Conley. For those that don’t know Steve, here’s a comment about him and his work from Andy:
“I’ve known Steve Conley for years and I’ve always trusted him and rated his abilities – I think he’s great. But in recent months I have personally benefited from his tremendous skills as a facilitator, a coach, a life planner. We have been meeting on Zoom weekly and through a remarkably effective step-by-step process Steve has helped me to put my own future plans and that of the TTF into focus. My planning is so much better now than it ever has been – I have an even greater sense of clarity of purpose than I have ever had before; it feels great and I want others to have a chance to understand Steve’s process.?
During one of our conversations it dawned on me that what Steve does could be particularly beneficial to people who are facing real hardship; be that financially and/or emotionally, as a direct consequence of becoming a victim. Steve was happy to run this special meeting for TTF people so that they might get a feel for how beneficial values-based, holistic planning can be.????
I am enthusiastically and unashamedly wanting to promote this event as best as I possibly can, because my instincts are that some people will find it, and any future related events that we do, helpful in a deep-down, heart and soul way. Be open minded and attend, please – I highly recommend it.”
This event is specifically designed for individuals who have fallen victim to financial scams and scandals. Beyond the immediate financial loss, such experiences can lead to profound emotional distress and a sense of lost control over one’s future. Steve’s approach empowers victims to reclaim their lives by focusing on:
By attending, you’ll gain insights into how to transform adversity into opportunity, rebuild confidence, and design a future that reflects your true potential.
Join us for an enlightening session that goes way beyond the topics we normally talk about; we believe it will give some a path to holistic recovery and renewed hope.
Join Us: Reclaim Your Future
We invite you to a special event designed for those who have suffered from financial scams, scandals, fraud, or injustice. Hosted in collaboration with the Transparency Taskforce, this session will provide practical strategies and emotional support to help victims transition from a mindset of loss to one of empowerment.
Event Details:
Why Attend?
A Call to Action
The time for silence is over. If you have been a victim of financial mis-selling, know that you are not alone. Join us to take the first step towards reclaiming your financial independence and well-being. This is not just about recovery—it is about building a future filled with purpose, passion, and possibilities.
Together, we will challenge the status quo, expose the failures of the system, and create a new path forward—one that prioritises people over profits and ensures true consumer protection.