2
nd February 2021 9:13 am
Good morning and welcome to your Morning Briefing for Tuesday, 2 February, 2021. To get this in your inbox every morning click here.
Buy Now, Regulated Later
The coronavirus crisis has opened up a divide in British society. One between those who have been able to save more due to lower commuting and entertainment costs, and those who have lost their jobs and have had to take on more debt.
The conditions have been rife for buy now, pay later lenders to enter the fray, and enter they have. In his last act as outgoing FCA chief executive, interim boss Chris Woolard took charge of a review into the unsecured credit market. His report is out today.
Collapsed DB transfer adviser’s wind-up drags on
By Michael Klimes 21
st January 2021 11:00 am
The wind up of a collapsed advice firm with a history of pension transfer complaints is set to drag on for another year.
Administrators for Kingsway Wealth Management – which racked up around £2.7m in liabilities from pension transfer complaints and went into liquidation in January last year – have had to extend their work by another 12 months, an update on Companies House shows.
The origin of the complaints dates from between 2009 and 2012 when the now-dissolved Pension Transfers Ltd was an appointed representative of Kingsway.
Money Marketing previously reported about how another adviser, DJ Financial Solutions, also doubled up as a member of Quilter’s network and an unregulated lead generator for Kingsway.