The regulator's five-step proposals to help advisers handle insistent clients will not help to lessen the risks involved in defined benefit (DB) pension transfers, advisers have warned.
Chapters Financial chartered financial planner Keith Churchouse (pictured) said the Financial Conduct Authority's (FCA) proposals, published on Tuesday, were useful but he warned the regulator was taking a conflicting approach on the issue of DB transfers overall. "The risks involved in DB transfers are exceptionally high and where you have got the FCA suspending firms, I think that is a good indicator of the serious nature of the DB transfer market. You then also have it offering proposals as to how to deal with insistent clients on transfers - it doesn't really marry up," he said. S...
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