The Financial Ombudsman has partially upheld a complaint against TenetConnect from the family of a former client, who had argued they had been made to pay unnecessary ongoing advice charges because of a pension switch.
The complaint stems from an anonymous client, Mr Y, who was advised to switch their pension in 2013. The adviser, of Darlington Naley Taylor & Associates, was an appointed representative of TenetConnect. Mr Y was advised to switch his existing pension plan of £78,000 into a new plan that would result in lower ongoing charges (a decline of 1.05% to 0.7%). In 2019, the client expressed their dissatisfaction at a lack of service and advice since the pension switch. TenetConnect accepted a poor level of service had been offered and paid him £500 in compensation. Matters did not end the...
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