Advisers fear liability risks for clients contesting DB transfer advice

The survey of 102 advisers by PollRight, from 19 to 27 September, found nearly two out of three (63%) advisers said their biggest concern about DB business is the risk of future liabilities from contested advice. This is where people have gone ahead with transfers, but have then come back to advisers with regret about their decision further down the line. The survey showed 53% of advisers said their biggest fear for consumers who transfer is that they are surrendering a guaranteed income for life, while nearly half (48%) were worried customers do not understand the investment risks of...