Steelworkers' insistent client perception 'stopping compensation claims'

Quarter believed they were insistent

Hannah Godfrey
clock • 2 min read

Steelworkers who transferred out of their defined benefit (DB) scheme are not complaining about the advice they received because they thought they were insistent clients, according to financial adviser Alastair Rush.

Rich Caddy, a shift operator at British Steel in Teesside, surveyed 178 workers who had transferred out of the British Steel Pension Scheme. The data, which was supplied to Professional Adviser, found almost a quarter (23%) of respondents thought they transferred as insistent clients, while the other 77% believed they had received a positive recommendation to transfer. However, Echelon Wealthcare managing director Alastair Rush, who has worked closely with a number of steelworkers to get compensation for the advice they were given, disputed the accuracy of the figures. He did not t...

To continue reading this article...

Join Professional Adviser for free

  • 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
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA360: Fear of missing out can 'significantly' alter an investor's risk

PA360: Fear of missing out can 'significantly' alter an investor's risk

Albemarle Street Partners’ Charlie Parker on the social element of investing

Isabel Baxter
clock 01 May 2025 • 1 min read
PA360: AI 'here now' and transforming adviser workflows

PA360: AI 'here now' and transforming adviser workflows

‘AI is not coming for your jobs’

Sahar Nazir
clock 01 May 2025 • 2 min read
PA360: Investors must understand importance of 'proper diversification'

PA360: Investors must understand importance of 'proper diversification'

‘Investors don’t have to choose a single door’

Sahar Nazir
clock 01 May 2025 • 1 min read