Collapsed wealth firm charged investors 20% fees
And pushed advisers to promote its portfolios to DB pension transfer and Sipp clients
And pushed advisers to promote its portfolios to DB pension transfer and Sipp clients
Research shows a ‘worryingly large number of people’ could fall victim to common fraudster tactics
Select committee questions whether it has ‘sufficient resource’ to combat fraud
Financial watchdog hopes to lead by example but other companies need to up their game
Mixed response from industry, with some criticising the move as ‘wrong’
But Financial Conduct Authority employees can turn down interview requests
Existing clients will be unaffected
Proposed guidance to help deal with vulnerable clients, a ‘very difficult area to get right’
Call handlers incentivised with significant bonuses and rewards for meeting/exceeding sales targets
A client reported the firm to the Ombudsman over doctored documents
UK pension transfers, ombudsman award limits and compensation scheme changes not on the agenda
As rising costs often mean ‘good’ firms are hit by the fallout when others go bad