Image:
Christopher Woolard: "This action was taken against the specialist firms as they remain responsible for the suitability of the advice."
Advisers who have outsourced their pension transfer work to specialists have provided inaccurate information, according to Financial Conduct Authority (FCA) executive director of strategy and competition Christopher Woolard.
In a letter to Work and Pensions Committee chair Frank Field, Woolard (pictured) said the watchdog had seen examples where advice firms without pension transfer qualifications had referred work on to specialists along...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Tap into our community intellignece through our regular Pro Adviser poll.
- Be the first to hear about our events and awards programmes.
