The Personal Finance Society (PFS) has raised concerns the Financial Conduct Authority's (FCA) pension transfer advice cost template could mislead clients.
As part of its consultation paper CP19/25, published on Tuesday morning (30 July), the regulator suggested all firms who advise clients using a pension transfer specialist should produce a one-page summary outlining the suitability and cost of the advice given. The FCA was specific about the charges advisers had to display in the summary. In response, the PFS said it was concerned with the FCA's table (see below) and the potential "misleading nature" of its conclusions. Source: FCA's CP19/25 'Disclose in pounds and pence' PFS chief executive Keith Richards (pictured) said: "Fo...
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