Adviser loses fight as FOS backs Aegon over widow's 'mis-sold' pension

The widow and her financial adviser, who asked not to be named, took the case to the FOS after Aegon refused to reverse a decision that means it gets to keep around £23,000 of her late husband's defined contribution (DC) pension. Central to the complaint was that Aegon, under the Scottish Equitable brand, strayed into giving advice - which it is not authorised to do - when it offered her husband an annuity, and allegedly failed to make him aware of other more suitable retirement options, such as drawdown. Two years into his annuity in April 2015 the man died, having received a little ...