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IFA helps workers hit by steel plant closure

IFA firm Carterbar has been asked by the FSA to help workers at Corus steel plant manage their finances when it closes temporarily.

Carterbar has been asked by the regulator to deliver a series of presentations giving workers guidance about how to deal with the closure of the Redcar-based steel works.

A total of 1,700 jobs are to go when the plant is mothballed, although workers are attempting to delay or stop the closure.

Carterbar managing director Arthur Dornan (pictured with Carterbar director of operations Suzanne Cox) says: “We were approached by the FSA because it wishes to offer workers expert advice.

“There will be people working at Corus who face a range of concerns. Some workers will be coming to the end of their careers and need help in planning for their later years and making their redundancy money work for them while some of the younger ones will be concerned about how best to access services such as benefit advice, meeting mortgage payments, and debt counselling.”

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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Very laudable but how is this advice going to be paid for? especially when dealing with restucturing finances upon which a great deal of time can be spent. Are Corus going to pay a set fee or hourly rate for this service ?Some major employers employ IFAs- Wealth Advisers to educate, guide and advise their employees on their benefit schemes ,share save schemes and the implication of taxation.
    I do encourage the FSA to make it mandatory for all large companies to offer this service due to the fact we are entering an era of greater uncertainty regarding unpreictable retirement income given the decline of defined benifit pensions.

  2. Why should the fsa recommend a particular firm to help them. How did they pick that firm. What is wrong with open competition……

  3. Carterbar should now be able to advertise thus;By appointment to his majesty the FSA

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