FSA fines IFA £24,500 for pension failings

The life and pensions consultants exposed customers to unacceptable levels of risk and gave poor pension switching advice, says the regulator. Bradford failed to record information from its customers to assess whether advice was suitable, says the FSA, and did not include relevant information in suitability letters to help customers decide whether to switch. During a review of ten of the firm's pension switching files, the regulator found eight did not contain a fact find document, two had no assessment of the customer's risk profile and three contained no information on the pros and ...