Adviser compensates insistent client after FOS deems DB transfer unsuitable

Mrs N, as referred to by the FOS, complained that Fernleigh provided unsuitable advice to transfer her deferred occupational pension scheme (OPS) benefits to a personal pension plan, causing her to lose valuable guaranteed benefits. In early 2014, Mrs N sought advice from Fernleigh Wearden about transferring deferred OPS benefits to a personal pension, which had a quoted transfer value of £154,000. In 2009, the client had previously tried to transfer the OPS with a different adviser when it had a value of £92,000. Fernleigh Wearden recommended that Mrs N transfer for deferred OPS bene...