FCA fines financial advice firm and bans Arthur Cobill and William Hofstetter for British Steel Pension Scheme advice and oversight failings
IFM poorly advised people to transfer out of defined benefit (DB) pension schemes, including the British Steel Pension Scheme (BSPS). Arthur Cobill, an adviser at IFM, and William Hofstetter, one of its directors, have been banned by the FCA from advising customers on pension transfers and pension opt outs. Mr Hofstetter has also been banned …