London & Colonial has raised concern over the continuing promotion of what it calls "questionable esoteric and overseas property developments" because of a loophole allowing IFAs to move such investments into unregulated environments.
Such schems have come under renewed scrutiny by the Financial Conduct Authority (FCA) as it has become aware that some advisers are giving advice on pension transfers or switches without having fully assessed the pros and cons associated with the type of investment they are proposing their clients hold within their pension fund. Despite this increased scrutiny from the FCA, Adam Wrench, head of product and business development for London & Colonial, remains concerned. “Clamping down on the inclusion of such investments may see those advisers promoting such schemes simply start moving c...
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