Tom Hegarty: A ban on contingent charging is no solution

On 26 March, the Financial Conduct Authority (FCA) released a further consultation paper - CP18/7: Improving the quality of pension transfer advice - which sought out views on whether the regulator should intervene in relation to charging structures. This could include a ban on contingent charging to address the difficulty in managing conflicts of interest that exist in providing pension transfer advice. As you may be aware, contingent charging is thought by some to create a potential conflict of interest, where an adviser may be more likely to give advice to transfer even where this is ...