Alistair Cunningham: An adviser's response to the regulator's DB transfer consultation

We at Wingate Financial Planning do not support a contingent charging ban, as we feel the regulator needs to spend more time identifying the core issues and applying resource to where there is the greatest scope for harm. There are many adviser biases in recommending a transfer and, among these, we empirically believe that assets under management (AUM) is the greatest. Were contingent charging abolished there would be scope for gaming - ironically, if all firms are on a more or less even playing field, the AUM bias becomes even more significant. The only way around this bias would be ...