Tim Sargisson: Time to dust down the handcart

DB and a lack of alignment

clock • 3 min read

The problem with many DB transfers reviewed by the FCA is that advice has become no more than a process, says Tim Sargisson - its provision industrialised and with little real understanding of the needs of the client

I have no idea from where the expression ‘going to hell in a handcart' originates but it certainly seems an appropriate one to employ in the context of the latest findings by the Financial Conduct Authority (FCA) on pension transfer advice. Published on 6 December, the findings again make for depressing reading and catalogue a litany of failures on the part of the advice industry. The FCA remains concerned that firms are still failing to give "consistently suitable" advice despite providing adequate feedback in the past. I was staggered to see the numbers showing that, since 2015, 18 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

'Dinosaurs go extinct': Former Progeny CTO warns platforms must evolve or die

'Dinosaurs go extinct': Former Progeny CTO warns platforms must evolve or die

Tim Thompson Rye warns advice platforms must embrace digital transformation

Sahar Nazir
clock 31 January 2025 • 2 min read
Advice firms called to 'create tech team' to fully embrace AI

Advice firms called to 'create tech team' to fully embrace AI

‘A tech team can look at the most important problems your firm needs to solve’

Sahar Nazir
clock 31 January 2025 • 2 min read
Feel Good Friday: CISI gives nearly £250,000 to financial education charities

Feel Good Friday: CISI gives nearly £250,000 to financial education charities

Providing support to Get Set Girls, RedSTART Educate, and Crosslight Advice

Professional Adviser
clock 31 January 2025 • 1 min read