Image:
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...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
