Cold-calling consultation - where to draw the line on legitimacy?

Government target certain conversations

Victoria McKeever
clock • 2 min read

The government's proposed crackdown on illegitimate cold-callers is "not watertight", pension experts have said, although it has to "navigate a fine line" in trying to help advisers operate effectively.

The government is looking to crack down on increasing numbers of pension scams by banning cold-callers and restricting pension transfers. In a consultation document published on 5 December it said it wanted the ban to have a "wide scope" to prevent it being circumvented by firms adapting their business models to avoid the measures. Conversation topics set to be covered by the crackdown include offers of ‘free pension reviews' and high-return pension funds as well as a range of inducements to transfer funds. The ban would also extend to calls that result in ‘hand-offs' to other orga...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Octopus Money: Why a Seccl-backed platform integration is for us

Octopus Money: Why a Seccl-backed platform integration is for us

'Technology and compliance acts as an anchor in the industry'

Sahar Nazir
clock 18 April 2024 • 1 min read
AJ Bell platform hits £80.3bn AUA as advised customers increase

AJ Bell platform hits £80.3bn AUA as advised customers increase

The firm recorded total advised customers of 165,000

Cristian Angeloni
clock 18 April 2024 • 2 min read
Women in Financial Advice Awards 2024: Two weeks to nominate!

Women in Financial Advice Awards 2024: Two weeks to nominate!

Awards ceremony on 6 November at London’s Marriott Grosvenor Square

Professional Adviser
clock 18 April 2024 • 1 min read