The worst-case scenario for the future of financial advice would be a significant mis-selling scandal, says Rory Percival, who goes on to warn there is a real risk of that happening in the DB transfer market.
The ex-FCA technical specialist who now runs his own consultancy and training firm says there has already been evidence of "problem areas" in the defined benefit (DB) transfer space. "So I just hope that does not escalate and make it into the national press and become a much more significant issue with the general public," he adds, "because that would set the sector back quite significantly in terms of its move towards being an established profession." Percival is the latest Adviser Champion to appear in Professional Adviser's series of video interviews, which has most recently featur...
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