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...
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.
'This sleepy corner on the occupational pension world is ripe for a service upgrade'
Entered administration in February
Part of its Transfer Watch tracker
From the horse's mouth
Spike during first lockdown