What can we learn from the FCA's DB data dive?

Just 2% of transfers relate to unregulated introducers

Hannah Godfrey
clock • 3 min read

On Wednesday morning (19 June), the Financial Conduct Authority (FCA) released data from its probe into the defined benefit (DB) transfer advice market. Here, Professional Adviser takes a closer look at the figures

In response to the findings of its marketwide data probe on DB transfers, the regulator declared itself "concerned and disappointed". The FCA's worries focused on firms recommending large volumes of DB transfers despite the regulator's stance that transfers were unlikely to be suitable for most clients. Of 234,951 scheme members who received advice on whether to transfer, it found 69% were recommended to leave their DB scheme.   What, however, can be learned from the mine of figures that underpin the headline numbers?  Not all firms are using their permissions Over the course of ...

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