What it takes to stay in the DB transfer market

FTAdviser Podcast

English - February 12, 2021 11:00 - 23 minutes - 21.5 MB
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The market for providing advice on defined benefit transfers has shrunk by 46% over the past few years, as insurance costs and regulatory changes take their toll - and there are concerns this will be exacerbated by the contingent charging ban, which came into effect in October 2020.

So what does it take for a financial advice firm to continue to provide financial advice? This week, reporter Amy Austin talks to two advisers who have remained in the market: Alistair Cunningham of Wingate Financial Planning and Dominic James Murray of Cameron James.

They discuss how their firms have managed to remain in the DB transfer market, what impact the contingent charging could have, the role abridged advice could play and what it means for clients if the market continues to shrink.

Then, Amy talks to reporters Imogen Tew and Rachel Mortimer about James Hay's decision to buy Nucleus and the Treasury select committee's investigation into the London Capital & Finance scandal.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

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