Loading ...Poll: Should there be any exemptions to the DB transfer contingent charging ban?
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There already are.
Indeed, for ill health and financial distress, but the question is *should* there be.
Yes.
No, there definitely should not be any exceptions. Contingent charging invariable creates bias towards a product. Advisers advise and that should be chargeable, whether or not a product is purchased. Do we aspire to a profession or not?
There are already too many loopholes in the half baked rules. Commission payable of life assurance and equity release. A complete farce.
The problem is two-fold: compulsory top-heavy advice for the customer and compulsory insurance for the advisor. It is a toxic combination creating an entire industry of well-paid professionals entirely at the expense of customers with often very modest pension pots. A few compulsory warnings before signing would suffice.