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How much are advisers charging for pension transfers?

Defined benefit pension transfer charges are being put under the microscope again as the regulator turns over more potential conflicts of interest. With the British Steel Pension Scheme the latest to dominate headlines and the FCA ready to interrogate further as it extends its review to include all firms authorised to give pension transfer advice, […]

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Connaught investors to get compensation by October

Investors who lost money after the collapse and suspension of the Connaught Income Fund in 2012 have been told redress payments will start by 27 October. Investors tell Money Marketing that joint communication from administrators Duff & Phelps and the FCA outlines figures owed for individual cases and gives until 25 September for responses to queries. […]

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Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.

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There are 5 comments at the moment, we would love to hear your opinion too.

  1. This is an interesting question.

    I am currently dealing with a complaint at FOS where a solicitor is arguing that the IFA is liable for an alleged delay by a provider.

    • IFA is agent of the client not of the provider. Surely the solcitor should be encouraging the consuemr to claim against the provider for any delay?

    • Good point Phil. Probably worth building a clause into the client agreement giving the adviser power of attorney to claim on the client’s behalf for compensation against increased advice fees caused by counterparties’ delays. Providers would struggle to resist that – especially when you take them to FOS!

  2. as to the vote, whilst i ahve voted yes the advsier should be able to claim against the provider for delays and mistakes, it does mean that would potentially work the other way too of course and we all make mistakes.

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