Adviser fined £755,000 and banned from financial services

The decision follows Breuer "repeatedly acting without integrity and putting customers at risk for personal financial gain," according to the FCA. Breuer was the joint owner and sole director of Bluesky Wealth Management Limited (Bluesky), which provided advice on investments and pensions.  Although authorised to advise on defined benefit (DB) pension transfers, the firm did not have the appropriate professional insurance in place from April 2019, meaning Breuer's customers were at risk of not receiving compensation if something went wrong. While knowing he was uninsured, Breuer ca...