Clive Goldthorpe: Soaring PI insurance costs are the most effective way to clamp down on DB transfers

The DB transfer market has been put in sharp focus after the FCA unveiled a series of new measures that will make it even harder for advisers to carry out switches for clients. In fairness, given the evidence the regulator gleaned from its own work with adviser firms, it probably had little option but to introduce new rules, which include banning contingent charging on DB transfers from October this year. The FCA found flaws with a high percentage of files - some 17% of cases were found to be unsuitable while many more had incomplete information, figures we can all agree are unaccepta...