LEBC transfer halt 'shows quality of advice is bigger issue than contingent charging'

FCA consulting on contingent charging ban

Hannah Godfrey
clock • 2 min read

The quality of DB advice has proven to be a bigger issue than contingent charging, Tideway managing partner James Baxter has said after advice giant LEBC stopped its DB transfer work.

On Monday (2 September) Professional Adviser revealed LEBC had stopped offering advice on defined benefit (DB) transfers after a review by the Financial Conduct Authority (FCA). A note from LEBC seen by PA said the firm would not be tendering for new DB transfer projects, nor would it be able to complete existing transfer business. The national advice firm has been a consistent advocate for one of the most controversial topics surrounding DB transfers: a ban on contingent charging. The firm welcomed the Work and Pension Select Committee's recommendation to ban the practice back in May...

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

Why psychological factors are critical for targeted support's success

Why psychological factors are critical for targeted support's success

Hidden diversity within segments

Greg B Davies
clock 14 November 2025 • 4 min read
Pre-Budget panic has 'got worse' with the current government

Pre-Budget panic has 'got worse' with the current government

‘Over the years the rumours have become more sensational’

Isabel Baxter
clock 14 November 2025 • 2 min read
Women in Financial Advice Awards 2025: Best pictures from the night

Women in Financial Advice Awards 2025: Best pictures from the night

Celebrating the best women in the industry

Professional Adviser
clock 14 November 2025 • 1 min read