The FCA has warned of increased risk to consumers when overseas firms refer defined benefit (DB) scheme members to UK firms for pension transfer advice.

Pension transfer advice is under threat and may become scarce without action by regulators and pension schemes, according to new research. 

Defined Benefit pension schemes have seen major improvement in their deficits with 46% now in surplus - partly helped by a fall in life expectancy reducing liabilities.

Financial Planning tech firm Wealth Wizards has revealed it is developing software that will enable financial advisers to implement a digital ‘abridged advice’ service.