The proportion of adviser firms offering defined benefit transfer advice dropped by nearly half to 22% in the last year, according to new research.

LEBC, the retirement advisory firm whose CEO died suddenly last year, has reported a loss of £232,000 in its latest financial figures. 

Financial Planners are being driven from the defined benefit pension transfer market due to an inability to secure affordable professional indemnity insurance, according to the Personal Finance Society.

The FCA has commenced civil proceeding in the High Court against Paul Steel for providing unsuitable defined benefit pension transfer advice.