Live Breaking News & Updates on Db Transfer Advice
Stay updated with breaking news from Db transfer advice. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
DB transfers fall to eight month low as scam activity rises - XPS Dip after a period of recovery Mark Barlow: With warning signs of poor member outcomes remaining so high, we welcome the FCA s decision to extend their thematic review with the aim of driving up standards of pensions advice. Tom Higgins April’s activity in the defined benefit (DB) transfer market fell to the lowest level since September last year, dropping by almost a quarter, while the number of transfers showing ‘red flags’ for scams increased to a three-month high, according to pensions consultancy XPS Pensions Group. The latest statistics show a rate of 55 in every 10,000 members transferring per year, down from March s high of 68 in every 10,000. ....
IFAs report 76% PII premium hikes as consumers struggle to access DB transfer advice ‘Profound impact on market’ Keith Richards: The regulator is open to discussion and does acknowledge the issues on consumer access and the long-term viability of the advice market. Consumer access to government-mandated financial advice on defined benefit (DB) transfers is being severely curtailed as rocketing professional indemnity insurance (PII) premiums continue to shrink the market, Keith Richards has said. The Personal Finance Society (PFS) chief executive said access to pensions freedom was being stifled as the DB transfer advice market contracts and PII was having a profound impact . His comments come. ....
What is the FCA s new DB advice assessment tool DBAAT ? Check suitability of advice The Financial Conduct Authority (FCA) has published a defined benefit (DB) transfer tool which it said should help firms understand its file review methodology for DB transfer advice. But what exactly is it and why should advisers care? What is DBAAT? The Defined Benefit Advice Assessment Tool (DBAAT) sets out key factors advisers should consider when checking the suitability of advice and disclosure. Essentially, it should help firms. Sign In ....