Manchester-based adviser firm Copia Wealth Management has failed to communicate with a client or the Financial Ombudsman Service (FOS) over a defined benefit (DB) transfer complaint.
Mr L complained 2014 advice given to him by Copia WM was unsuitable after he transferred benefits from a DB scheme into a self-invested personal pension (SIPP). Mr L was referred to Copia WM by a third party after he responded to an advert. Copia WM prepared a suitability report and recommended Mr L transfer benefits held in a former employer's DB scheme into a SIPP. The transfer value was £44,000 and allowed him to take a tax-free cash sum of £10,000. The remaining cash was invested with Mr L making a further withdrawal in 2016. Mr L complained to Copia WM but, according to the ...
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