IFAs recommending DB pension transfers in FCA’s crosshairs
Regulator outlines review as industry warns against making life even more difficult for clients.
The Financial Conduct Authority (FCA) has said it is disappointed with the number of advice firms recommending people transfer out of defined benefit (DB) pension schemes.
This comes after the its survey found 69% of the 234,951 pension scheme members seeking advice between April 2015 and September 2018 had been recommended to transfer by firms with DB permissions.
Please link to International Adviser to read the full article with comments from David White of QB Partners.