Advice firms have stopped carrying out defined benefit (DB) transfer advice following intervention from the FCA around the British Steel Pension Scheme (BSPS) In an update published this afternoon, the regulator said it has ‘undertaken a significant information gathering exercise … Read more ….
A stitch in time saves nine. This is exactly what is needed to keep the market for defined benefit (DB) transfers working safely and soundly for consumers. Since the pension freedom reforms came into force in April 2015, momentum has … Read more ….
The FCA is warning consumers to be wary of any contact out of the blue by call, email or text offering to discuss their pension or a free pension review. Savers should be cautious about any unusual investments such as … Read more ….
It was just a ‘normal financial services company’, a former employee at five-man advice firm Cherish Wealth Management in Solihull said. Yet nine years after it was founded the firm has collapsed, landing the Financial Services Compensation Scheme (FSCS) with a bill … Read more ….
80 per cent of compensation claims against financial advisers are for unregulated investment sales, according to Financial Services Compensation Scheme chief executive Mark Neale. FSCS chief exec Mark Neale speaking at MM Speaking at the Money Marketing In Focus conference … Read more ….
The Financial Conduct Authority (FCA) has started civil proceedings against unregulated pension introducer Avacade Limited. The regulator’s proceedings against Avacade centres around the unregulated introducer carrying out regulated activities without permission to do so. The FCA also alleges that ‘Craig … Read more ….
PPF outlines what advisers should do when a client comes to them from a defined benefit (DB) pension scheme in deficit In a recent report into the pension advice received by British Steel DB pension holders, Sara Protheroe, chief customer … Read more ….
Aviva has said its advice firm will not provide defined benefit (DB) transfer advice in the ‘imminent’ future as it is too worried about the potential liabilities and risks involved. In 2016 Aviva launched its own in-house advice arm which … Read more ….
The Financial Conduct Authority (FCA) used its seminar on defined benefit (DB) transfer advice in Doncaster to warn advisers about using unregulated introducers and contingent charging. The regulator held its second DB transfer advice session for advisers on the British Steel Pension … Read more ….
Advisers with clients who are members of the British Steel Pension Scheme (BSPS) were asked to give evidence to MPs on the Work and Pensions Select Committee as part of an inquiry into pension freedoms. The Committee invited a number of … Read more ….