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

Many claims set to land with insurers

clock • 3 min read

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...

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 Your profession

Social media investment advice leaves investors out of pocket - research

Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock 21 August 2026 • 3 min read
New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

'Employers will be expected to take all reasonable steps'

Emily Bradshaw
clock 19 August 2026 • 4 min read
FCA: Top ten wealth management firms hold nearly 90% of all UK clients

FCA: Top ten wealth management firms hold nearly 90% of all UK clients

FCA Wealth Management Survey

Patrick Brusnahan
clock 18 August 2026 • 3 min read