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Inspirational Financial Management

  • FCA fines advice firm for pushing pensioners to drop defined benefit scheme

    Regulation

    Inspirational Financial Management, provided "unsuitable pension transfer advice" between 2015 and 2017 as they only collected fees if the pensioners transferred schemes.

    The FCA said that 83 per cent of the firm's DB scheme transfer advice "failed to comply with its minimum required standards, and customers risked financial loss as a result of the poor advice they received".

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