08 October 2020
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Rory Percival: “In simple terms, needs must override wants. The client might want to transfer for flexibility, death benefits, and so on, but you need to ensure their needs are addressed first."
Suitability reports for defined benefit (DB) transfers should be “90%+ personalised”, according to ex-Financial Conduct Authority (FCA) man Rory Percival, who was speaking at PA360 Digital.
Percival, who now has his own consultancy firm, said suitability reports were a "key area of failings" when it came to DB transfers. He said a suitability report should be highly personalised to individual...
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