Banned pension transfer adviser agrees £850,000 compensation payment

A Birmingham-based financial adviser has been banned and required to pay most of his remaining assets in compensation after he tried to hide the goodwill value of his business and put it out of reach of the FCA.

By Neasa MacErlean

The compensation will go, via the Financial Services Compensation Scheme, to some 412 pension transfer clients where his advice was found to be below the required standard.