BEUC NEWS - 17.07.2024

Who really decides how you invest your money? You or your bank?

Too often, when consumers ask their bank for financial advice on investing or saving for retirement, they do not get the impartial advice they are expecting. That’s because financial advisors are often paid to recommend certain products, even if those are not in the consumer’s interest. The same is happening for consumers who want to invest in sustainably where, despite their wishes to the contrary, they end up propping up dirty, polluting activities.

When this happens, both consumers and the climate lose out. Consumers do not get the expected returns on their investment and vital funds – which could finance the climate transition – are greenwashed into planet-wrecking industries.

It’s time for EU legislators to make sure people’s money is invested where they want, and not where’s best for the finance industry.

#FixSustainableFinance

Read our Consumer Agenda for Sustainable Retail Finance and Banking for more information.
Find out more about our Price of Bad Advice campaign or read our factsheet on how to make financial advice fairer.