APFA joins chorus call for 'insistent' client safeguards on pension planning

The trade body said the regulator should make it clear that no liability would attach to advice which, though the recommendation might be against a transfer from a defined benefit (DB) scheme to an occupational defined contribution (DC) pension, acts as ‘enabling' advice regardless. "The FCA must also give the advice industry greater certainty on where and how liability would attach for advice to ‘insistent clients' who want to go ahead with a transfer against advice," APFA director general Chris Hannant said. Enabling advice is when an adviser processes a transaction, such as a DB to...