Live Webinar - Finalised Guidance (FG 21-3) for Defined Benefit Pension Transfer Advice

Gareth Davies of Scottish Widows will present on the FCA's finalised guidance on Defined Benefit pension transfer advice (FG 21-3)

This topic is increasingly important as the FCA’s work on Defined Benefit (DB) transfer advice shows many firms are struggling to give consistent, suitable advice. This is largely due to poor practices or weak record keeping. As a result, too much of the DB transfer advice the FCA see is either unsuitable or the FCA were unable to assess suitability due to material information gaps (MIGs).

FG21/3 supports the development of good practice and processes within firms when giving DB advice. In this session, Gareth Davies will explore this guidance in more detail, looking at the examples it highlights to give advisers the confidence to provide good advice, making the future pension transfer advice market more sustainable.

Learning objectives:

• Understand all of the finalised guidance contained in FG21/3
• Understand the context and market drivers behind these changes
• Discuss and agree what best practice looks like in the context of these changes
• Awareness of ongoing work by the FCA to assess suitability of DB advice