British Steel a stark reminder of obligations around client files

Clarke Willmott partner Philippa Hann today (27 March) encouraged advisers to take more notes in order to properly fulfil their obligations around keeping comprehensive client files. Speaking at the Personal Finance Society's ‘How to avoid financial advice going wrong' webinar, Hann reflected on the collapse of the old British Steel Pension Scheme and the advice transfer scandal that was later uncovered. "We had the perfect storm," she said of the situation. "The government itself making decisions about de-coupling the pension scheme from the sponsoring employer and the initial scheme...