Coronavirus-driven capacity crunch to leave DB members flailing

The professional services consultancy found the direct market impacts of coronavirus will add to the pressures of increased regulation and the rising costs of professional indemnity insurance that have already left many advisers reconsidering the breadth of services they offer. Partner Simon Taylor said: "We have already heard anecdotal evidence of an increased interest in transfers from scheme members - the decline in the number of advisers is likely going to lead to a capacity crunch. "Some older employees who have the ability to transfer will be looking to their DB deferred pension...