Law360, London (June 28, 2021, 1:46 PM BST) — People who use pensions advice companies could be in line for compensation after the Financial Conduct Authority urged them to complain if they believe they have been given poor guidance, a consumer group has said.
Which? said that clients of advisors that have collapsed could win up to 85,000 ($118,000) each from the country’s financial services lifeboat if they could prove they lost money after receiving bad advice.
Sunday’s warning came after the Financial Conduct Authority sent letters this month to 2,677 former customers of pension advice companies that were declared insolvent in 2020, urging them to check whether they had…
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