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Tag Archives: FSCS
Transfer volumes fall, the FCA back in trouble and bears visit the woods
Yesterday was one of those days where various stories break together like rippling waves onto a calm beach. The House of Commons Public Accounts Committee, having read the National Audit Offices report on the BSPS fiasco, has duly called … Continue reading
How a British Steel redress scheme might work.
Stuart Fowler has produced a counter-argument to that I put forward last week, it was published before my blog and I can’t say that my blog would have changed Stuart’s argument. I will ask Stuart for permission to publish it … Continue reading
Nick Smith MP is right – the British Steel pension transfers are a special case.
The overall uphold rate for all BSPS cases to the Financial Ombudsman Service is around 63% in favour of steelworkers, including complaints relating to administration or delays. This compares with an overall FOS uphold rate of 40% for all cases … Continue reading
All messed up and nowhere to go – DB transfer compensation
The FCA announced yesterday that it was writing to a further 950 DB pension advice customers potentially entitled to compensation. The FCA has now written to a total of 3,591 defined benefit (DB) pension transfer advice customers this year to tell them they may be entitled to compensation. And it … Continue reading
Moral hazard and the “compo culture”- must good pay for bad?
Blow to the trust in our profession. We could have organized to help people and divi the work for an industry wide agreed fixed fee on this. People matter. #financialplanning #values #trust https://t.co/wJghgWZEOe — Clémence Chatelin (@CChatelin) January 25, 2021 … Continue reading
Posted in actuaries, advice gap, CDC
Tagged Al Rush, BSPS, Compensation, FSCS, moral hazard, Pensions
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Now that’s what I call financial advice.
I’m quoting Al Rush from the Facebook post he made yesterday evening following the meetings of steelworkers with MPs and Regulators yesterday. Al’s message to the steelmen Sometimes, in my line of work, it can be dispiriting to work for … Continue reading
Posted in BSPS, pensions
Tagged Al Rush, BSPS, FSCS, IFA, pensions, Philippa Hann, Steel men
4 Comments
If you see bad advice – say something!
I was very pleased to read Natalie Holt’s article in Money Marketing, we need a better way to deal with bad advice. It deals with public perceptions of financial advisers and is uncompromising. The reality of advice is lost … Continue reading
Posted in accountants, actuaries, advice gap, pensions
Tagged advice, FCA, FSCS, IFA, Membership, self-regulation
5 Comments
“The predictable alternative to drawdown”
“Drawdown scares me”. It scares me because I am on my own, it scares me because I get a bumpy ride and most of all it scares me because I know that if I drawdown at a minute of … Continue reading
Posted in advice gap, CDC, FCA, Financial Conduct Authority, FSA, pensions
Tagged Business, CDC, Defined benefit pension plan, Drawdown, DWP, Employment, FCA, Financial services, flexible drawdown, FSCS, Government, Insurance, long term care, MAS, National Employment Savings Trust, pension, Retirement, Steve Webb, TPAS
3 Comments
