News
Customers put at risk of poor pension switching advice by IFA
Customers of Gloucestershire-based IFA network, Financial Ltd may recieve redress after the Financial Services Authority (FSA) fined Charles Palmer, director of the firm £49,000 for management failings.
As a consequence Financial Ltd has agreed to carry out a past business review, which may lead to customer redress if it is found that unsuitable advice was given.
During its investigation, the FSA found shortcomings in the way the firm organised its business and how responsibility for monitoring advisers was allocated to senior management. In turn, this led to concerns about the monitoring of the quality of pension switching advice given by advisers between April 2006 and August 2008.
