Pension providers will be expected to check adviser firms have the appropriate permissions to carry out defined benefit (DB) transfers and "act accordingly" if not, the FCA has warned.
In a ‘Dear CEO' letter, the Financial Conduct Authority (FCA) said it expected pension providers to check adviser permissions during DB transfer reviews and "act accordingly" if there had been changes...
Maximum 30% of redress
For a long time, the road to retirement followed a familiar path. Individuals saved up for a pension during their working life in order to retire at a set age; usually around 65. This path has shifted, however.
Third Covid-19 resilience survey sent to advisers
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
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