UK-based wealth firm Tideway Investment Partners has been stripped of its pension transfer advice authorisation by the Financial Conduct Authority (FCA).
According to the FCA register, from 3 July 2020, the firm must cease:
- Advising on conversion or transfer of pension benefits;
- Completing pipeline business in relation to the conversion or transfer of pension benefits; and,
- Providing any confirmation that independent advice has been provided for the purposes of section 48 of the Pension Schemes Act 2015.
Additionally, from the same date, Tideway is not allowed to “dispose of, deal with or diminish the value of any of its assets – whether in the United Kingdom or elsewhere; and/or dispose of, transfer or sell in whole or in part its client base without the prior consent of the FCA”.
The company’s website, however, makes no mention of losing its authorisation and contact details for pension transfer enquiries are still displayed.
International Adviser was unable to get in contact with Tideway to ask for a comment.
Editor’s note: This article previously stated that this was the second time the Financial Conduct Authority had intervened to remove Tideway’s DB pension transfer permissions.
This was not the case and I apologise for the error.
