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This 972-word blog post discusses the Financial Conduct Authority’s (FCA) new measures to reduce the conflict of interest associated with ‘contingent charging’, where an adviser is only paid if they recommend a transfer from a defined benefit pension scheme to a private pension arrangement.
Written on 8 June 2020.
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Advice to transfer from a defined benefit pension scheme to a private pension arrangement has faced regulatory scrutiny in recent years.
Now, in their latest missive, the Financial Conduct Authority (FCA) has revealed a package of measures designed to address market weaknesses further.
The measures include an attempt to reduce the conflict of interest associated with ‘contingent charging’, where an adviser is only paid if they recommend a transfer.
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