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Cold-calling about pensions is now illegal. But why?


After years or complaints, petitions, campaigns, debates and reviews, it is now illegal for companies to cold-call members of the public about pensions. As of 9 January 2019, firms wishing to speak to people about their pensions and conduct free pension reviews will have to obtain prior consent to make marketing calls to each individual. … Continued

Investments buried

5 high-risk alternative investments that the FOS received complaints about


The FOS, which is setup to resolve disputes between consumers and firms in the financial services sector, has produced a list of the top five alternative investments that it has received complaints about or relating to in the last year. Alternative investments are often based overseas, and are unregulated by the FCA (Financial Conduct Authority). … Continued

A man receives a pension cold-call

Pensions cold-calling ban to finally be enforced


A ban on cold-calling about pensions will finally be enforced from 9 January 2019, and the legislation was approved by parliament. The new law has been a long-time coming, with a solution to the problem of unregulated introducers and their part in pension mis-selling well needed. What role have unregulated introducers had in pension mis-selling? … Continued

Images of FOS workers on a blue background. Text reads TRAINING

Authorities train staff for wave of Final Salary pension complaints


Have you transferred a final salary pension in the last few years? If you did, it could be that you find out that your pension transfer was mis-sold to you, like so many others, and in making a complaint, you may end up in contact with the Financial Ombudsman Service. The FOS is now training … Continued

Concept blue background reads Defined Benefits transfers

Defined benefits pension transfer crisis looms large


The FCA has produced defined benefits transfer figures that some have interpreted as a sign that advisers will be paying more and more to the FSCS for mis-sold pension compensation. Industry comments on the FCA’s ‘Key Findings on our Recent Work on Pension Transfer Advice’ highlighted the uncertainty and feelings of mis-trust about many financial … Continued

Man resting head on keyboard in despair over pension advice

Retirements put at risk due to pension advice failures


A review of pension transfer advice conducted by the top-dogs at the Financial Conduct Authority has revealed how a string of common advice failures from some financial advisers may be putting retirements at risk. The FCA looked into 45 financial advice companies that were giving people pension advice over valuable final salary pensions, and other … Continued

Man confused over financial advisers responses

Financial advice firm refuses to declare that it gave advice over SIPP


Lighthouse Advisory Services – a principal IFA that has operated with several Appointed Representatives, has been told to pay compensation to a client by the Financial Ombudsman, because it refused to sign paperwork declaring that it gave financial advice. In a recently published financial ombudsman case, Mr B was given advise to transfer his two … Continued