The FCA has urged those with complaints over the British Steel Pension Scheme to discuss how to proceed with the Financial Ombudsman Service after one of the advice firms at the centre of the scandal had filed for liquidation. Yesterday, … Read more ….
The Financial Services Compensation Scheme is preparing to declare IFA Active Wealth in default, after it was revealed this week the firm has entered liquidation. Midlands-based Active Wealth is one of nine firms that has stopped giving pension transfer advice in … Read more ….
MPs on the Work and Pensions Select Committee have urged the Financial Conduct Authority (FCA) to ban advisers from using contingent charging models on defined benefit (DB) transfers. In its report on the British Steel Pension Scheme (BSPS) saga, published this … Read more ….
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money and Me understands. The regulator does not offer qualifications but it does have a role in setting standards for … Read more ….
An IFA firm that was critical of the media’s coverage of the British Steel pension scandal has stopped advising on pension transfers, following intervention from the regulator. The firm, County Capital Wealth Management – which also trades as The Pension … Read more ….
Financial Services Compensation Scheme (FSCS) claims against the collapsed Sipp provider Stadia Trustees could be as high as £41 million, Mattioli Woods estimates. A Financial Services Authority inspection in 2011 highlighted problems at Stadia that eventually caused the company to close down in 2013. … Read more ….
The Pensions Ombudsman is investigating more than 150 complaints about transfer values related to the British Steel Pension Scheme saga. The Ombudsman says it will soon be starting a group investigation into member complaints over early retirement factors. An update from … Read more ….
The Financial Ombudsman Service has told a firm to compensate a client who was advised to transfer their Sipp into an unregulated collective investment scheme. The client, referred to as Mr C, complained that advice he received from The Citimark … Read more ….
Advisers are continuing to receive emails from fund groups and property managers guaranteeing unrealistic returns on investments with little proof behind them. Yvonne Goodwin Wealth Management managing director Yvonne Goodwin says the advertising of unrealistic offerings has increased since the … Read more ….
The FCA is warning the public to be vigilant protecting themselves from online investment fraud, with figures showing investors lost an approximate daily amount of £87,410 to binary options scams last year. Latest data from the FCA’s Scam Smart campaign shows the kind of investor being … Read more ….