FCA quizzing firms with high DB transfer conversion rates
Advisers should reconsider process
The FCA has honed in on firms with what it considers high conversion rates for defined benefit transfers.
The Financial Conduct Authority (FCA) has pressed firms it has deemed have high defined benefit (DB) transfer conversation rates for additional information on their DB transfer advice process.
In a letter sent to one adviser at the end of October, who preferred not to be named, the regulator said their firm's transfer conversion rate, which was above 50%, suggested it may "not be acting in line...
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