The company was involved in a scandal The Financial Conduct Authority (FCA) has fined Pembrokeshire Mortgage Centre Limited (PMC) £2,354,331 for providing unsuitable advice to consumers.
In 2017, PMC advised most of the 420 consumers, nearly two-thirds of whom were BSPS members, to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes. PMC, then trading as County Financial Consultants and now in liquidation, earned over £2 million in transfer and ongoing advice fees.
Contrary to PMC’s advice, the FCA’s view is that most people should have kept the guaranteed income provided by a DB […]
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