Proposed contingent charging ban 'throwing the baby out with the bath water'

Pension transfer proposals

"DB transfers can be a valid part of financial planning for some clients, but under the current and arguably tightening regulatory environment, I suspect it will not be much longer until it is entirely unviable for advisers to offer this advice" - Rowley Turton's Scott Gallacher.
"DB transfers can be a valid part of financial planning for some clients, but under the current and arguably tightening regulatory environment, I suspect it will not be much longer until it is entirely unviable for advisers to offer this advice" - Rowley Turton's Scott Gallacher.
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The proposed ban on contingent charging on DB transfers is the "wrong solution to the problem", financial adviser Scott Gallacher has said.

Last month (30 July), the Financial Conduct Authority said it was consulting on plans to ban contingent charging on defined benefit (DB) transfer advice. In consultation paper CP19/25, the FCA expressed...

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