FCA fines financial planning firm £107k for unsuitable pension transfer advice
£2.6m in redress paid
More than 110 clients were recommended to transfer into SIPPs between March 2010 and December 2012.
The Financial Conduct Authority (FCA) has fined LJ Financial Planning (LJFP) £107,200 for providing its customers with unsuitable pension switching and transfer advice and for failing to manage its conflicts of interest.
LJFP, based in Warrington, advised 114 customers to transfer their pensions into self-invested personal pensions (SIPPs) between March 2010 and December 2012. The firm did not provide any advice on...
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