Investors were offered impossibly high returns of 1.4% a day, 7% a week or 350% a year.

Intermediaries don’t favour proposals for banks to take more risks.

The announcement follows last Friday’s landmark ruling by the Supreme Court.

WEIF value dropped from £10.1bn (May 2017) to £3.6bn (pre-suspension)

Investors were promised fixed returns and told the scheme was backed by the UK Government, claims the FCA considers were false or misleading.

The investments were high risk and hard to sell, leaving investor money trapped.

Last year's report informed the creation of a cross-industry “route of disclosure” guide. 

Over three quarters of advisers are looking to increase their assets under advice, however only a tenth have a clearly defined strategy to do so.

Medium-term potential for growth has been upgraded due to a more relaxed approach to mortgage affordability tests.

Only 19% of UK adults across the UK use financial advice to manage all or some of their investments.