FCA fines advisory firm £107k for 'unsuitable pension advice'

clock • 3 min read

LJ Financial Planning (LJFP), an independent financial advice firm, has been fined for providing its customers with unsuitable pension switching and transfer advice and failing to manage its conflicts of interest. Between March 2010 and December 2012, the England-based firm recommended that 114 customers transfer their pensions into self-invested personal pensions (SIPPs), without providing any advice on the underlying investments which were to be held in those SIPPs. These investments were often high-risk, esoteric and illiquid. The total amount invested in this way by LJFP's custome...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.