Britain cracks down on 'vulture' pensions advisers
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LONDON (Reuters) - Britain's markets watchdog has banned contingent charging from October after lawmakers criticised financial advisers for ripping off steelworkers facing critical decisions about their pensionsContingent charging refers to financial advisers not earning their fee for pensions advice unless it results in a transfer, creating an incentive to push clients to move from one scheme to another even though it may not be in their best interests.The Financial Conduct Authority said its..