Advice giant St. James’s Place has come under fire from the Financial Ombudsman Service (FOS) after it failed to correctly calculate the transfer value of a client’s pension funds following the cancellation of her investment.
Mrs M, as referred to by the FOS, previously held pension benefits with two providers and decided she wanted to consolidate those into a single plan. She sought advice from an SJP adviser and agreed to...
Had previously put on hold
In favour of Russell Adams
Jump from 554 in 2019
But steady transfer values
Defined contribution (DC) pension wealth in the UK has more than doubled since the start of auto-enrolment in 2012, raising concerns about lost pensions.
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