The Financial Conduct Authority (FCA) has fined the financial advice firm Inspirational Financial Management Ltd (IFM) £897,840.
IFM poorly advised people to transfer out of defined benefit (DB) pension schemes, including the British Steel Pension Scheme (BSPS), the regulator found.
Arthur Cobill, an adviser at IFM, and William Hofstetter, one of its directors, have been banned by the FCA from advising customers on pension transfer...
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