Why are we still doing DB despite the risks? Why do we bother to continue to offer defined benefits and safeguarded rights when the risks to us are high and the costs are high?
Despite the huge costs that we continue to face every year to secure professional indemnity insurance for pension transfer advice to protect both you and ourselves that runs into thousands of pounds per month, we continue to carry and pay those costs to ensure that you, the consumer, continues to be able to access unbiased, highly qualified, independent financial advice from award winning financial advisers.
We do this to make sure that you are not forced to go to rogue advisers that may not act in your interests and/or risk poor advice.
Yes, we know we charge a fee and we are not doing it for free so we do not expect 'medals', gongs and knighthoods but we do this to make sure that you are not forced to go to rogue advisers that may not act in your interests and/or risk poor advice.