Introducer firm earned £50k from British steelworker referrals

A letter sent from Celtic managing director Clive Howells to Work & Pensions Select Committee chair Frank Field revealed the introducer had referred a number of steelworkers to advice firm Active Wealth, which has since voluntarily suspended its defined benefit (DB) transfer permissions. In the letter, Howells said the firm had referred 76 British Steel Pension Scheme (BSPS) clients. The letter also revealed the highest fee Celtic Wealth had ever received in respect of a British Steel client was £750, and that "the average is slightly lower", suggesting the firm earned in the region of £...