British Steel adviser firm fails
UK lifeboat scheme is now accepting claims against the company
DB pensions
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Will the FCA defined benefit pension transfer plan work?
Less suitable British Steel client outcomes ‘could have been avoided’ if rule was in force at the time
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Quilter doubles DB legacy contingency fund to £24m
As the firm moves from ‘significant advice business acquisitions’ to focus on organic growth
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Quilter stops network IFAs from offering DB transfers
But it is ‘committed’ to providing the service through its restricted financial planners
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CORRECTION: DB pension transfer provider loses licence
Pipeline business is affected by the measure
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Not even covid can curb M&A-hungry advice firms
But DB transfers still causing headaches as due diligence is more thorough than ever
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DB transfer values increased by 5% last year
But fewer people opted to put their money into a self-invested personal pension
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UK regulator to quiz advice firms on DB transfers again
Questionnaire will be sent out to around 2,000 businesses
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DB pension transfers hit £10bn in Q4 2019
Nearly 100% increase from the total withdrawn in the previous quarter
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FCA urges British Steel DB victims to ‘seek compensation’
People who received unsuitable advice and don’t act may end up with ‘no money during retirement’
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Industry body calls for ‘radical’ flat rate pension tax relief
‘We must learn the lessons of the past and not make any kneejerk changes’
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Six-in-10 advisers to cut DB transfer work after fee changes
Some 62% believe that the market will not be profitable going forward