FCA's system error on DB transfer survey raises questions over data accuracy

PA can reveal the error could have affected around 320 of the advice firms who took part in the FCA's survey. The issue with the survey centred on question 5d: "How many clients discussed a DB pension transfer with the firm but did not proceed to receiving advice?" Guidance accompanying the question asked respondents to enter "0" in the appropriate box if they did not operate a triage process. Those who did not maintain records of clients with whom DB transfers were discussed but did not proceed to receive advice were advised to enter "no data". Professional Adviser understands, howev...