Defaqto to roll out Consumer Duty profiles
They will help advisers carry out due diligence, target market and value assessments
Products
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Fintech firm joins forces with Options UK to roll out digital Sipp
It is now available to advised clients
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Sipp sales reach highest level in five years
‘Savers are becoming increasingly confident in managing their own finances’
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Seccl rolls out drawdown Sipp
It is currently only available on an advised basis
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18% of over 55s to pass tax-free cash from pension to loved ones
Men more likely to do so than women
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IFA banned over ‘unsuitable’ DB pension transfer advice
He has been told to pay £850,000 to the FSCS to compensate customers
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One-in-five Brits regret not planning for retirement earlier
This rises to 27% for UK adults aged between 35 and 54
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DB transfer values fall to lowest month-end level for 7 years
93% of cases raised at least one scam warning flag in May
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19 million Brits over 50 will not consider annuities
Less than a third have or would contemplate buying one
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UK firm rolls out blended retirement income solution
It will allow advisers to offer clients a mix of drawdown and annuity strategies
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Just 1% of completed pension transfers had red or amber flags
DWP review also finds ‘overseas investment amber flag needs to be more clearly defined or removed’
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Annuity rates rise 20% in the last year
A 65-year-old with a £100,000 pension can get up to £7,144 per year