British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock • 2 min read

The lack of adviser documenting uncovered in the National Audit Office (NAO) investigations around the British Steel saga has made it even more critical for advisers to keep detailed files, a lawyer warns.

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...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

WBR group buys financial planning firm's SSAS book

WBR group buys financial planning firm's SSAS book

Part of long-term growth strategy

Jenna Brown
clock 05 May 2026 • 2 min read
The £22.40 question: Are clients in the dark on the full state pension?

The £22.40 question: Are clients in the dark on the full state pension?

'The political architecture is elegant, from the Treasury's perspective'

James Floyd
clock 05 May 2026 • 3 min read
Alltrust acquires Phoenix Wealth Family Suntrust schemes

Alltrust acquires Phoenix Wealth Family Suntrust schemes

Completion expected later this year

Jenna Brown
clock 29 April 2026 • 1 min read