Half of advisers will do less DB business in the future - Prudential

Last month (30 July), the Financial Conduct Authority (FCA) expressed concern that too many advisers were delivering poor advice, much of it driven by conflicts of interest in the way they are remunerated. In consultation paper CP19/25, it described contingent charging on defined benefit (DB) transfers as "an obvious conflict of interest" and, as such, argued the practice should be banned except from specific groups of customers with "certain identifiable circumstances". In adviser webinars of more than 700 advisers, which were conducted shortly after the proposals were announced, Pru...