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Investment manager clone draws FCA warning

An investment manager is the latest company targeted by clone scammers, the FCA has warned. In a warning notice published on the FCA website, the regulator states “clone firm” TVT Partners/ TVT Investment Management is using the details of FCA-regulated Perspective Capital Management, which trades as Perspective Investments. The regulator says: “This FCA authorised firm […]

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Case study: Gifting rules under lasting power of attorney

Paul has been appointed as the attorney for his father Jack. The lasting power of attorney was created several years ago but it has never been used. Jack can no longer make decisions for himself and therefore it is now up to Paul to make these decisions on his behalf. Paul’s younger brother Wayne is […]

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British Steel IFA: Many advisers ‘misinterpret’ FCA transfer rules

A British Steel IFA who has had their transfer permissions reinstated says many advisers have “misinterpreted” the FCA’s regulations on the subject. In February, County Capital Wealth Management, which trades as The Pensions Review Service, became one of the 10 firms that voluntarily agreed to stop doing transfer work with the watchdog. It regained permission […]

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Friends Life to compensate for unsuitable DB transfer advice

The Financial Ombudsman Service has ruled against Friends Life for giving unsuitable advice on a pension transfer from a defined benefit scheme. In the ruling Mr S complains the advice he received from Friends Life to move pension benefits from his former employer’s final salary scheme to a personal pension arrangement was not suitable. In […]

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