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IFA Turned Down DB Transfer Enquiry
Comments
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Was there not a story on this forum about an advisor who would not reccomend a lady to transfer her FS pension but she went ahead then sued them in court and won when she blew her money.0
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Was there not a story on this forum about an advisor who would not reccomend a lady to transfer her FS pension but she went ahead then sued them in court and won when she blew her money.
I think this is due to the way the FCA has set out the T&C's for IFA's. A client who is adamant they want to move a DB scheme and ignore the advice of the IFA, the IFA still has to produce a letter for the pension holding company. I can see why some IFA's are walking away.0 -
Anyone else come across this?
Yes, especially where the IFA has any reason to believe that he or she is likely to be dealing with an insistent customer, whatever advice is given. The risks are too great for the IFA.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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