A proposed shakeup of FCA guidance on DB pensions advice will make transfers ‘harder to justify’ and ‘more demanding’, an adviser firm claims.

The FCA is set to deliver its final report on the asset management industry tomorrow after finding price competition is ‘weak’ in parts of the sector.

The FCA is investigating whether consumers can understand the outcomes of stochastic cashflow modelling as part of its shake up of DB transfer advice.

Bedford-based financial adviser firm Total Wealth Solutions is being voluntarily wound up after the firm had a complaint upheld against it by the Financial Ombudsman Service over pension transfer advice to move a client's money to a fund linked to a Brazilian rainforest scheme.

The FCA has revealed plans for changes on DB transfer advice this morning, including scrapping guidance that the adviser should start from the assumption that a transfer will be unsuitable.

Pension experts, including the former Pensions Minister have backed the scrapping of ‘outdated’ guidance on DB transfers, saying that change was “long overdue” and the regulatory framework was “past its sell-by date”.

The FCA has revealed plans for changes on DB transfer advice this morning, including scrapping guidance that the adviser should start from the assumption that a transfer will be unsuitable.

Fraudsters have been using a 'cloned' Blackrock Asset Management website to try to cheat investors, the FCA has warned.

About seven in ten advisers refuse insistent DB clients if their advice is not to transfer, a survey indicates.

Half of advisers use contingent charging for DB transfers, a report published this morning suggested, as an ex-FCA specialist urged the sector to ditch the method.