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Percival: Pension transfer suitability reports still falling short

Advisers need to worker harder to put relevant client details in suitability reports or they risk failing to meet the FCA’s expectations on pension transfers, says consultant Rory Percival. In March, the regulator published a consultation paper and a policy statement that toughened standards on pension transfer advice. These included the introduction of a rule to require all […]

National IFA continues not-for-profit push with foster carer advice deal

National financial planner Lighthouse has renewed its deal to provide advice to members of not-for-profit foster carers support association FosterTalk. The 20,000-member organisation has extended its deal for Lighthouse to provide retirement planning, mortgage and investment advice to its members for another three years until May 2021. So-called “affinity partnerships” are becoming key to Lighthouse’s […]

Trustees banned for pushing transfers into high-risk investments

The directors of two pension trustee and administration firms have been banned from running any company for 21 years for their role in persuading unsophisticated investors to move to schemes backed by high-risk investments. Roger Bessent, Matthew Bessent, Neil O’Donnell and Tracy Park were directors of Preston-based Gleeson Bessent Trustees, which serviced a number of […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.

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