Rising costs of pension transfer advice; powers of attorney pitfalls; and 'poor value' over-50s plans - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
Pension freedoms: Cost of transfer advice set to soar Pension transfer advice is set to soar in price amid increased professional indemnity (PI) insurance costs and fears over potential mis-selling claims, points out this Sunday Times article. The paper has obtained figures from the Financial Conduct Authority highlighting a small fall in the number of advisers authorised to give pension transfer advice - the first time this has happened since the pension freedoms. The number hit 3,089 last April but fell to 3,079 a year later. The Pensions Advisory Service chief executive Michelle Cra...
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