The Financial Conduct Authority (FCA) has proposed introducing low-cost 'abridged advice' on potential pension transfers for customers where a pension transfer is likely to be unsuitable.
According to the regulator, abridged advice must be carried out or checked by a pension transfer specialist. It would take in the initial stages of the usual advice process, such as conducting a fact-find...
'People miscalculate how much they need'
Information request by AJ Bell
Could lose 97% of investment
'Document your conversations'