The introduction of pension freedoms pushed defined benefit (DB) transfers to the fore and not only did it test the financial advice profession, but the increased demand for transfer advice has also tested the qualifications advisers must attain.
The introduction of pension freedoms pushed defined benefit (DB) transfers to the fore and not only did it test the financial advice profession, but the increased demand for transfer advice has also tested the qualifications advisers must attain. The FCA has started cracking down on financial advice in the last few months after voicing its displeasure with the high rate of DB transfers - £60bn has left schemes since April 2015. From proposing a contingent charging ban and introducing the idea of 'abridged' advice, to saying it was "disappointed" with advisers and would "shut down firms". And...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
Already a Professional Adviser member?
Professional Adviser journalist from 2018-2021
