According to a pensions news report, the financial adviser AWD Chase De Vere Wealth Management has been hit with a £1.12 million fine by the financial services authority. The fine was levied for failings in the way the company sold pensions .
The group reportedly agreed to settle early, and pay out compensation to those customers who had lost money due to bad advice. The FSA indicated that some 800 people could have been badly advised in relation to 1,200 sales.
The director of enforcement at the FSA, Margaret Cole, was reported as commenting: "Firms must treat their customers fairly by making every effort to provide them with suitable advice."
Financial Adviser fined for pensions mis-selling
Pensions Quote Line
0845 108 0505
Financial Adviser fined for pensions mis-selling
Wed, 12 Nov 2008
Recommended links
Pensions enquiry formBest pension offers
Making a will
Pension planning
Final salary pension warning
Pension value plummets
Workers missing out on £5bn worth of pension funds, research shows
Website overhaul promises greater accessibility for pension holders
Warning issued to over-optimistic pension holders
Pensioners missing out on help that could ease pressure on pensions
General pessimism over retirement pension in UK
Pensions reform a missed opportunity, expert claims
Women could miss out on pensions, expert warns
Commission could provide pension solutions for UK pensions crisis
No savings gap says leading economist
Pensions Commission calls for cost efficiency
Britons missing out on pension billions, study shows
Women missing out on pension tax relief
Pensions.co.uk is part of a large network of financial sites created to help advise you on life events, such as buying a house, Mortgages.co.uk; insuring your car - CarInsurances.co.uk; your life - LifeInsurance.co.uk; and your home - HomeInsurance.co.uk.
1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
| pensions news |
|---|
| Pension scheme bailouts likely - Wed, 07 Jan 2009 |
| Government will protect pension holders - Tue, 06 Jan 2009 |
| Pension investors told to consider hotel rooms - Wed, 24 Dec 2008 |
| More News |
Pensions Newsletter
Please enter your email below and subscribe to our monthly newsletter
Save on Your Mortgage
Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.
Protect Your Health
Find Critical illness, Life and Private Medical Insurance PMI policies.