Adviser firm Tideway was told to cease all pension transfer advice business from 3 July 2020, after first being visited by the FCA about its defined benefit (DB) transfer operations in 2017, Professional Adviser can reveal.
According to an update on the firm's Financial Services Register page, from 3 July Tideway has not been allowed to advise on conversion or transfer of pension benefits, nor complete any pipeline business related to pension transfers. Additionally, the firm has been told it must not dispose of, deal with or diminish the value of any of its assets, nor dispose of, transfer or sell part of or all of its entire client bank without permission from the Financial Conduct Authority (FCA). A spokesperson confirmed Tideway is not providing DB transfer advice at the current time in the wake of i...
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