Funds Insider - Opening the door to funds

Welcome to the Citywire Funds Insider Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error
Yet Another "miss-selling scandal?
+ Reply to discussion
Options
Alexander Johnston
Posted: 05 October 2018 13:44:12(UTC)
#1

Joined: 22/09/2018(UTC)
Posts: 1,998

Thanks: 3589 times
Was thanked: 2770 time(s) in 1145 post(s)
I enjoyed reading Alisdair Osborne in The Times today "Pension advice made a bit too simple" (5th October).
A new career beckons.
Why not become a Pensions' Adviser in the go-go field of defined-benefit transfer advice?
No need to hurry. This demanding qualification, which has no entry qualifications and can be achieved in a month, wouldn't become mandatory until 2020.
Of course the best advice in perhaps 95% of cases is not to change, but obviously a new workforce of "advisors" is required to cater for the 5%.
"Advisors" can at present only charge if the client decides to change say, from a gold-standard, copper-bottomed, platinum-topped defined-benefit scheme into say, a dodgy property fund.
But the FCA, bless them, can't find a clear cut causal link between such charges and unsuitable advice.
You couldn't make it up.
Back to top Quote
1 user thanked Alexander Johnston for this post.
Guest on 05/10/2018(UTC)
Tim D
Posted: 05 October 2018 15:09:26(UTC)
#2

Joined: 07/06/2017(UTC)
Posts: 8,883

Thanks: 33209 times
Was thanked: 24362 time(s) in 7229 post(s)
If you like that you'll love the stuff at https://henrytapper.com/ (especially his coverage of how Port Talbot workers have been shamelessly ripped off by the "advice" industry). Some interesting stuff at http://pension-life.com/ too.
Back to top Quote
1 user thanked Tim D for this post.
Alexander Johnston on 05/10/2018(UTC)
paul armstrong
Posted: 05 October 2018 17:58:48(UTC)
#3

Joined: 14/03/2010(UTC)
Posts: 1,366
The quality of front line staff in the pensions industry is pretty low however not everyone is a scandal. I was mis-sold marriage but no offer of compensation :).
Back to top Quote
Alexander Johnston
Posted: 05 October 2018 20:52:31(UTC)
#4

Joined: 22/09/2018(UTC)
Posts: 1,998

Thanks: 3589 times
Was thanked: 2770 time(s) in 1145 post(s)
paul armstrong;70124 wrote:
The quality of front line staff in the pensions industry is pretty low however not everyone is a scandal. I was mis-sold marriage but no offer of compensation :).



How much commission did the marriage advisor receive?
Back to top Quote
+ Reply to discussion

Markets

Other markets