The FCA's latest pension transfer data does not reveal a "widespread issue" with financial advice, according to PFS boss Keith Richards, who has argued it "narrowly focused" on DB pension transfers.
The professional body's chief executive (pictured) said the data released by the Financial Conduct Authority (FCA) last week on defined benefit (DB) transfers showed the watchdog was taking a "risk-based" approach to supervision. He stressed it was "vital" to understand the FCA's study was not representative of advice standards more broadly - and neither did it include or represent the activities of all regulated firms. Richards' comments came after the FCA said the results of its research made for "concerning and disappointing" reading. The regulator found firms were recommending lar...
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