Police and TPR investigate schemes with cold-calling links

The probe, which was launched at the beginning of January, concerns several defined contribution (DC) schemes with more than £3m of transferred funds. These include the Alderley Wealth Management scheme, where TPR has appointed Independent Trustee Services to run the scheme after its Determinations Panel found the existing trustee, Confideo Pension Trustees, had breached its statutory, regulatory and common law investment duties. The regulator suspects savers may have been cold-called and told they would receive higher returns and upfront cash incentives by transferring to the schemes...