The regulator has encouraged people to seek independent financial advice if approached about investing their pension, as it warned of a rise in investment scamming ahead of the pensions freedom coming into force in April.
On its new ScamSmart page, the Financial Conduct Authority (FCA) pointed people to adviser directories unbiased.co.uk, Find an adviser and VouchedFor, as well as the Wealth Management Association. It said: "Professional advice is not free. However, financial advisers should provide you with a professional assessment of the risks and potential benefits of the investment." "We recommend you do not speak to an adviser indicated or referred by the firm you're thinking of investing with - they are unlikely to give you impartial or truly independent advice. "This should help protect you f...
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