FOS orders adviser to compensate client over pension transfer

A decision notice posted on the Financial Ombudsman Service's (FOS) website explained Mr L was unhappy with the advice he received from Profile Financial Solutions to transfer his pension plans to a new provider.  Mr L had two personal pensions. One had a transfer value of £87,000 and the other a transfer value of about £27,000. The smaller pension had a guaranteed mortality rate attached, which the investigator said the advice had not properly taken into consideration.  The investigator said the new provider plan would have had to grow substantially in the short period to Mr L's r...