More than 500 personal finance professionals have signed up to the Chartered Insurance Institute (CII) pension transfer qualification in the first week of its launch.
The CII said it had seen take up of the new qualification "soar" in the first week, following the regulator's recent proposals around defined benefit (DB) pension scheme transfers. The Financial Conduct Authority (FCA) proposed to replace the current starting assumption that a DB transfer would be unsuitable in a consultation paper in June. It also proposed DB transfer advice should be based on a personal recommendation in line with the new definition of financial advice, outlining additional factors for advisers to consider. These factors included the client's income needs and expect...
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