The majority of advisers are concerned about the regulator implementing new defined benefit (DB) transfer legislation retrospectively and the impact this could have on their business, new research has found.
According to a survey by FundsNetwork, 64% of advisers are worried about retrospective legislation and how this could impact on them in the future. These concerns could be preventing advisers entering the transfer market, with three-fifths (58%) saying they have no plan to start undertaking DB transfers because they harbour such fears. Despite this, many advisers believed the market would continue to grow. Seven-in-ten (70%) said the DB transfer market would provide more business for advisers in the future, while three-quarters (74%) of those who refer DB advice to a qualified pers...
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