Glasgow-based retirement specialist Intelligent Pensions has agreed with the Financial Conduct Authority (FCA) to suspend its defined benefit (DB) transfer business.
The firm said it was working with compliance and legal experts to be able to convince the FCA "quickly" its business was delivering "good outcomes for clients". A note on the FCA Register read on Wednesday Intelligent Pensions must "immediately cease to provide advice in relation to the transfer, or conversion, of safeguarded benefits under a pension scheme to flexible benefits." A spokesman for Intelligent Pensions said: "Following discussions with the FCA we have voluntarily agreed to temporarily suspend offering advice and arranging DB transfers. "We are working with legal and c...
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