FSA refuses adviser approval over PP switch failures

Investment adviser Paul Maguire, formerly of Eden Personal Financial Planning, part of The Whitechurch Network, is not ‘fit and proper' to perform the CF30 (customer) function, the regulator concluded. A previously employer of Maguire, unnamed by the FSA, said it had concerns about his work, stating there was a "potential risk to consumers" mainly in relation to personal pension (PP) switching. It said virtually all of Maguire's work at the company involved a PP switch, with many files failing its pre-approval case checking system. About half of the cases written by Maguire and rev...