AWD Chase de Vere fined £1.12m for mis-selling

An investigation of the firm, one of the largest IFA groups in the UK, found serious failings in the sale of pension transfer, pension annuity and income withdrawal business. AWD sold pension transfers and pension annuities to customers that already had adequate pension provision. In some cases a customer’s approach to risk did not match the product they were recommended. Around 800 customers are though to have been affected by the problems, which took place between February 2006 and October 2007. AWD also failed to disclose the risks and costs of products on some occasions, and could...