The FCA has launched a probe into DB transfer advice given by advisers at Lighthouse Group - now part of Quilter.

The industry is split on its response to the FCA’s ban announced today on most contingent charging on DB pension transfer advice.

The Pensions Regulator and the Financial Conduct Authority have published a joint ‘plain English’ guide for DB pension savers to warn them of the risks of transferring their pension.

The FCA says that 47% of the DB pension transfer advice given to members of the British Steel Pension Scheme was ’unsuitable’ with only 21% ’suitable.’

The Financial Conduct Authority says it will ban most contingent charging on DB pension transfers as part of a raft of measures designed to tackle ‘weaknesses’ in the DB transfer market.

Royal London is to absorb Police Mutual following a vote by Police Mutual policyholders in favour of a merger.

An award-winning Chartered Financial Planner has launched a mission to give people fee free mortgage advice during the Coronavirus outbreak.

After record outflows of £10bn in March, UK savers pumped £4bn back into retail funds in April, according to figures from the Investment Association published today.

The FCA has today launched a survey of 13,000 regulated firms to assess how their ‘financial resilience’ may have been affected by the Coronavirus outbreak.

Stephen Gazard, group managing director of Quilter’s advice business, is to become chief executive of Quilter Financial Planning, replacing Andy Thompson who will leave later this month.