Advisers continue exodus from DB transfer market
The Financial Conduct Authority (FCA) has announced that 193 firms have given up the permissions required to advise on defined benefit (DB) pension transfers since the announcement of the contingent charging ban. Firms can either remove the permission entirely or add a limitation to exclude DB transfers.
The FCA said that 183 added the limitation, while 10 withdrew the whole permission. Please link to International Adviser to read the full article by Cristian Angeloni with comments from David White.