The FCA faces a “notoriously difficult” challenge in seeking to justify its approach to tackling misselling, experts say. Last week the National Audit Office reported the FCA had no way of measuring its success in curbing misselling in financial services. In a report on regulation and redress, it said while increased fines and compensation have […]
Pension freedoms have led many to consider transferring pension rights out of defined benefit schemes and into defined contribution ones. However, both advisers and clients should be very cautious about such transfers. The industry has been there before some 30 years ago – and it ended in tears. There are clearly circumstances in which there […]
The Financial Advice Market Review has called for the definition of advice to be amended and to allow consumers to access their pension pot early to pay for the cost of advice. The final report as part of the FAMR, published today by the FCA and the Treasury, sets out a total of 28 policy […]
The acronym FOS can strike fear into the hearts of advisers. POS, on the other hand, may elicit a shrug at best. The Pensions Ombudsman Service is like a younger brother to the Financial Ombudsman Service. However, while the POS has just 47 staff compared with the FOS’s 3,000 or so, its decisions have far-reaching consequences […]
Johnson Fleming has partnered with Openwork in order to make its managed auto-enrolment service available to Openwork’s advisers.
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