2021

DB transfer fees have reached 'record high', warns XPS

Fees paid by individuals transferring out of their defined benefit pension scheme have hit their highest levels since 2018, according to XPS, which warned savers could out of money 10 years earlier as a result.

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State Pension: Triple lock earnings link suspended for one year

The government has suspended the wages element of the pensions triple lock to avoid a disproportionate rise of the state pension following the pandemic.

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What is in store after the Lloyds-Embark deal?

Acquisitions in the financial services sector have become far from unusual. But a deal that caught the attention of both the consumer and trade press is Lloyds’ planned acquisition of the Embark Group.

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How Covid has made soft skills essential

'This risk is that money being lost later when it passes down. This can be through non-verbal as much as verbal communication.'

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Two firms give up DB permissions after FCA Rolls-Royce probe

Two advice firms have voluntarily given up their defined benefit transfer permissions following intervention from the regulator.

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Scams could slip through the net under new transfer rules

Government proposals to allow trustees to stop transfers where a scam is suspected could see some scams slip the net, LCP has warned.

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Advisers question FCA's optimism on PI issues

Advisers have questioned the regulator's optimism with regards to the future of professional indemnity insurance for advisers, saying guidance on defined benefit transfers is unlikely to solve the industry's problems.

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What Makes a Good or Bad Pension Transfer?

The UK pension landscape has seen seismic changes over the past decade for advisers and clients alike.

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PodCast - What it takes to make it in the DB transfer advice market

irms that take a long-term view and are committed will manage to be successful in the defined benefit transfer advice market, according to the guests on the latest episode of the FTAdviser Podcast.

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Why can’t I transfer my final salary pension?

Professional advisers are increasingly reluctant to recommend giving up guaranteed income.

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Supply of DB transfer advice a 'real concern'

With the size of the DB transfer advice market shrinking dramatically in the face of tougher regulation and rising professional indemnity (PI) costs, many people who would benefit from advice simply cannot access it.

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FCA releases DB transfer advice assessment tool

The City watchdog has released an assessment tool to help advisers understand whether the defined benefit pension transfer advice they have given was suitable.

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What skills do advisers need to manage the great wealth transfer?

The process of transferring wealth is an emotional and complex one. Clients want to transfer part of their wealth earlier to help the next generation instead of inheriting on death but they also need to keep an eye on their future.

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2020

Industry must be wary of 'demonising' DB transfers

Regulators and the advice industry should be careful not to vilify all defined benefit transfers, despite the need for careful oversight, Canada Life has warned.

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Arcadia Collapse Sees 10,000 Pensions Head to PPF

The pensions industry and MPs have called on Sir Philip Green to plug the estimated £350m deficit facing the Arcadia DB scheme as the company has fallen into administration.

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Industry in favour of giving trustees power to stop transfers

Proposals to give trustees the power to halt pension transfers where a scam is suspected have gained support from advisers, despite some scepticism over the practicality of implementing them.

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Advisers mull FCA 'turning point' amid calls for FAMR II

The City watchdog’s proposal to look again at how to limit Financial Services Compensation Scheme costs may indicate a pivotal moment for the regulation of advice, advisers have claimed.

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FCA wants evidence of ‘informed decisions’ in DB advice

The regulator wants to see evidence that informed decisions are being made when it comes to defined benefit transfer advice, experts have said.

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Advisers warn of consequences from contingent charging ban

Advisers operating in the defined benefit transfer market have warned the regulator’s ban on contingent charging will push up charges and act as a barrier to advice which could ultimately lead to poorer outcomes for clients.

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DB transfer values hike as execs turn to planning

Wealthy executives using the Covid-19 crisis to get to grips with their personal finances have helped trigger a spike in high-value defined benefit pension transfers, advisers have claimed.

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Speaker

Dominic James Murray
CEO & IFA
Cameron James

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Getting suitability right in 2021

Overview

Title : FTAdviser : Getting suitability right in 2021

Date : 28 January 2021

Duration : 1 Hour, 1 minute

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