Tim Sargisson: Time to dust down the handcart

DB and a lack of alignment

clock • 3 min read

The problem with many DB transfers reviewed by the FCA is that advice has become no more than a process, says Tim Sargisson - its provision industrialised and with little real understanding of the needs of the client

I have no idea from where the expression ‘going to hell in a handcart' originates but it certainly seems an appropriate one to employ in the context of the latest findings by the Financial Conduct Authority (FCA) on pension transfer advice. Published on 6 December, the findings again make for depressing reading and catalogue a litany of failures on the part of the advice industry. The FCA remains concerned that firms are still failing to give "consistently suitable" advice despite providing adequate feedback in the past. I was staggered to see the numbers showing that, since 2015, 18 ...

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