About 370 firms – or roughly 12% of the adviser industry– have left the pension transfer market in the last two years, FCA chief executive Andrew Bailey has revealed.
“Ongoing failure” of the FCA supervisory regime is partly to blame for the colossal increases in the Financial Services and Compensation Scheme (FSCS) levy, an industry body has said.
The number of financial advice firms who have withdrawn their pension transfer permission application has jumped fifteen-fold in one year, an FoI request by Professional Adviser has revealed.
The FCA has admitted it is “actively looking at” PII and capital adequacy requirements for advisers but has declined to give any further information.
Good financial planning can have life-changing repercussions but the levels of unsuitable DB transfer advice has been alarming, writes Paul Dyer. Here, he looks through common failings he's seen and offers up considerations for advisers...
I have a lot of sympathy for the regulators in the pension arena right now - there is a sentence I would not have...
Troubled SIPP operator Guinness Mahon has been sold to Hartley Pensions after entering administration earlier this month. Administrators from Smith & Williamson (S&W) were appointed...
Complaints to the FOS about DB transfers and SIPPs steadily increased between the second and third quarters of last year, official figures show.
Newly-elected Conservative MP for Cities of London and Westminster Nickie Aiken has said she will call for a “proper, fundamental review” of the FSCS levy funding after hearing from financial advisers.
When thinking about the imminent arrival of drawdown investment pathways Lisa Webster says the old adage “square peg and round hole” springs to mind. Here she discusses how advisers will deal with the new requirements