Editor's View: Problems with pensions advice as more firms are defaulted

The editor's Friday Night Takeaway from 13 January

Hope William-Smith
clock • 2 min read

It’s been a bumper week for the Financial Services Compensation Scheme with our top story its Tuesday announcement that three more firms have been declared in default.

Norfolk-based Nurture Financial Planning and London firms Cadogan Asset Management and Midhurst Asset Management are the latest to be closed down by the lifeboat fund in what seems to be a never-ending stream of issues relating to pensions advice and pension transfers. With scams still on the rise and £23,300 now needed per individual per year to maintain a ‘moderate' retirement lifestyle, advisers have, as ever, plenty to do keeping the bad apples at bay.    Elsewhere, in a controversial move, Hargreaves Lansdown co-founder Peter Hargreaves came out this week to say the company's "indul...

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