The FSA has fined adviser firm Braemar Financial Planning £182,000 for what it called systemic faili...
The FSA has fined adviser firm Braemar Financial Planning £182,000 for what it called systemic failings in the group's sales process for pensions unlocking. According to the regulator, the failings resulted from Braemar's advisers not taking reasonable steps to ensure recommendations were suitable for their customers. Pensions unlocking allows people aged 50 and over to take pension benefits in a lump sum and/or income before retirement. Between November 2002 and November 2005, the FSA said it had found Braemar persistently failed to collect sufficient personal and financial information ...
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