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Leader: FCA saw the non-advised drawdown problem coming

Should income drawdown be sold on a non-advised basis? Trailing through the MM archives, it seems both the FCA and its predecessor have long held concerns about the risks of entering into drawdown contracts without advice. According to pensions commentator Alan Higham, when a former FSA pensions boss was asked this same question back in 2011, […]

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Advice complaints plummet in second half of 2015

Complaints against advice firms plummeted in the second half of 2015, the latest Financial Ombudsman Service data reveals. The FOS recorded 4,136 complaints about life and pensions advice between 1 July and 31 December 2015, down 12 per cent from 4,680 in the first half of the year. Similarly, investment advice complaints fell 22 per […]

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Lighthouse profits up 50% but costs bite

Lighthouse Group has reported a 50 per cent increase in its pre-tax profits for 2015 but operating costs rose amid regulatory pressures. Profit before tax was up from £600,000 in 2014 to £900,000 at the end of 2015. Revenues were also up 4 per cent from £47m to £49m with half of the total figure generated […]

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Andrew Tyrie condemns Treasury over OBR interference

Treasury committee chairman Andrew Tyrie has condemned attempts by the Government to make non-factual changes to reports from the Office for Budget Responsibility. Reports emerged in mid-September that Treasury officials had asked the OBR to alter the wording of its independent forecasts, including requesting the removal of references to “steep cuts”. While the phrase was […]

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