TenetConnect to compensate client despite belief it did not offer advice

Mrs L, as named by the ombudsman to protect her identity, said the firm advised her to surrender a personal pension plan (PPP) to raise capital that she wanted for a property investment. She claimed this was unsuitable as it caused her to pay tax that could have been avoided by using other investments.  The adviser firm said that Mrs L had received clear information by Aviva, her provider, regarding the tax that would be applied should Mrs L surrender her PPP.  TenetConnect also said it could not find a suitability letter or fee agreement between Mrs L and their appointed representati...