“The damage that poor or inappropriate financial advice can cause can be significant, particularly when this advice is around a pension which has taken a lifetime to build and is there to provide financial security in old age. Hence, any activity which can flush out mis-selling or advisors who are acting inappropriately has to be beneficial to the consumer.
At Close we offer advisors training and educational courses specifically on QROPS, the implications of holding them and areas of decision-making such as the taking of benefit and succession planning for dependents and/or beneficiaries. The market is still in the early stages of its evolution which opens it up to mis-selling and inappropriate behaviour both from providers and advisors. Hence consumers should be cautious and seek to deal with companies which have solid reputations and are well regulated”.
D.C.