Dearth of DB schemes to hurt retirees
As unsuitable transfers could mean up to £20bn in lost income over five years
DB pensions
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PI premiums push UK advisory firms to turn away clients
As one business saw a nearly 400% increase in just one year
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Year-on-year drop in Sipp complaints to financial ombudsman
Percentage of cases upheld also fell in the third quarter of its financial year
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Pension body to create code of good DB transfer practice
As it is worried time delays could damage relationships with scheme members
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At least 21 pension transfer firms operated without PI cover
FCA director of life insurance and financial advice warns the regulator is taking ‘very strict lines’
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Will contingent charging ban limit access to advice?
Only 46% of UK advisers believe the FCA’s ‘abridged’ proposal will be effective
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Over two-thirds of firms potentially gave harmful DB advice
‘Alarming’ information prompts UK regulator to write to 1,841 advisory businesses
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DB transfer ‘gold standard’ slated
But PFS chief says it works with the UK regulator to complete checks
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Persistently poor DB pension transfer advice vexes FCA
As letter to advisers re-emphasises the watchdog’s expectations
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FCA shows red card to 24 DB transfer advice firms
As PFS chief says similar number have given up permissions due to rising PI insurance costs
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Is there a DB transfer mis-selling scandal looming?
Issue is ‘more widespread’ than people in the advice sector think
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Look beyond AUM when segmenting clients, says UK regulator
As it tackles ’emotive subject’ of fees: ‘We don’t expect advisers to be charities’