About £3bn flexibly withdrawn from UK pensions is currently sitting in low yield bank accounts, with investors facing the “double jeopardy” of tax on withdrawals and low returns, according to research by AJ Bell.
A UK law firm is representing more than 100 clients in a multi-million-pound lawsuit against an introducer, a financial adviser and two Sipp providers over the miss-selling of a pension investment scheme.
The belief that UK pension transfers peaked in 2017 has been proven wrong as figures from the UK’s Office for National Statistics (ONS) show £10.6bn flowed out of defined benefit schemes in the first quarter of 2018.
Intrinsic Financial Planning has been ordered by the UK’s Financial Ombudsman Service (FOS) to compensate a client who says he was not aware of the charges that were applied to his pension on transfer.
The managing director of a collapsed UK wealth management firm, which allegedly still owes more than £13m to investors, has been charged with fraud by the City of London Police.
UK advisers are spending more time and resources dealing with retirement advice since the launch of pension freedoms, according to the latest research from AKG.
Former Premier League footballer Colin Hendry said he will be seeking compensation if an investigation into Kingsbridge Asset Management proves its staff conspired to defraud a large number of its high net worth clients.
Private equity and product providers are driving up the cost of buying bigger IFA businesses, according to serial acquirer AFH Wealth Management.
Mattioli Woods has stopped providing pension transfer advice service to individuals with safeguarded benefits as the wealth manager undertakes a full review of its work in the area.
The Financial Conduct Authority (FCA) has cancelled a financial advice firm’s permissions after it failed to submit its regulatory returns.
The UK’s Financial Services Ombudsman (FOS) has ruled in favour of Rathbones in a case where a client alleged the provider mismanaged his Self-Invested Person Pension (Sipp) portfolio, leading to its underperformance and a financial loss.
A law firm has issued more than 30 cases against self-invested personal pension provider Liberty Sipp, claiming it is the biggest lawsuit ever taken against the provider.
