FSA issues AWD with £1.12m fine over pensions mis-selling charges

The FSA has fined AWD Chase de Vere Wealth Management £1.12m for major failings that led to mis-sell...

The FSA has fined AWD Chase de Vere Wealth Management £1.12m for major failings that led to mis-selling. An investigation into the IFA firm found serious failings in the sale of pension transfer, annuity and income withdrawal business. AWD sold pension transfers and annuities to customers that already had adequate provision. The regulator found in some cases a customer's approach to risk did not match the product they were recommended. Around 800 customers are thought to have been affected by the problems, which took place between February 2006 and October 2007. AWD also failed to...