Nearly one-in-five Defined Benefit Scheme members given access to free financial advice have transferred out of their scheme to access flexible retirement options available through a defined contribution (DC) pot, according to research by Willis Towers Watson.

Brooks Macdonald Asset Management has announced a “strategic alliance” with Castlegate Financial Management, the East Midlands-based firm of Chartered Financial Planners.

The FCA says complaints about financial services firms dipped by 1.4% in the second half of 2015 although it still topped 2.1m. It also says firms will be required to publish complaints data on their websites from next February.