Fintech firm Wealth Wizards, which combines Chartered Financial Planning and robo advice, has launched an automated ‘algorithmic’ abridged advice service for DB transfers.

The FCA has launched a probe into DB transfer advice given by advisers at Lighthouse Group - now part of Quilter.

The FCA’s long awaited DB transfer review was published today with, seemingly, a ban on contingent charging which turns out to be not a complete ban after all.

The FCA says that 47% of the DB pension transfer advice given to members of the British Steel Pension Scheme was ’unsuitable’ with only 21% ’suitable.’