PI Insurance hikes spark exodus from DB transfer advice
More than 30 firms pull out in just three months
PFS chief executive Keith Richards expects the number of firms pulling out of DB transfer advice will increase further.
Advisers are continuing to leave the defined benefit (DB) transfer market in droves, with high professional indemnity (PI) premiums prompting more than 30 firms to back away from final salary transfer advice in just three months.
The Personal Finance Society (PFS) found more than 30 advice firms turned their backs on offering pensions transfer advice from October to December 2019 due to problems obtaining PI cover. Since the...
More on Regulation
Absence of advisers on FCA register impacting adviser comparison sites
Criticism of FCA register post SMCR
Failed Hull-based IFA firm receives 150 FSCS complaints
Unauthorised introducers
FCA names Sheldon Mills strategy and competition exec director
Filling Christopher Woodlard’s shoes
Coachloads of steelworkers to descend on Westminster for crunch DB transfer meeting
Three hours in front of regulators
Pension complaints continue to rise - FOS figures
Figures for Q2 and Q3
Back to Top
More news
Two advice firms achieve CISI accredited financial planning status
69 Accredited firms
Multi-Asset Review: Why the Kames multi-asset team prioritises sharing
Sharing is caring
Ipswich IFA defrauded £300,000 from clients
Norwich court hearing
Advice firm that bought British Steel client book loses FCA permissions after high-risk bond accusations
Case going to Upper Tribunal
Vanguard launches low-cost SIPP for D2C market
0.15% account fees
