Adviser ordered to compensate pension transfer client after investment complaint

'No credible plan' for pension growth

Carmen Reichman
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Adviser ordered to compensate pension transfer client after investment complaint

The Financial Ombudsman Service (FOS) has ordered an adviser to compensate a client who transferred his defined benefit pension to a personal pension plan, after he realised his new pension had not been invested for years.

PB Financial Planning Limited was held liable for bad advice to transfer the pension in 2008 after the client realised seven years later the pension had not been invested and had instead been sitting in...

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