The Financial Conduct Authority (FCA) should not treat advisers like children by maintaining the unsuitable transfer advice assumption, Richard Parkin told delegates at last week's PA360 conference.
Speaking in a panel debate on the day, the Parkin Consulting pensions and retirement consultant (pictured) said the financial watchdog must not ‘treat advisers like children' after it failed to anticipate situations such as the British Steel saga. "Because of what happened with British Steel - anyone in this room could have looked at it and seen a huge amount of money flowing, a limited timeline to make a decision and, with other options not looking particularly attractive, it could only go one way - but the fact the FCA did not anticipate that could happen, I think, means it is having ...
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