Company execs have used the Covid-19 lockdown to focus on their finances - and defined benefit transfers have seen an increase as a result.
According to financial advisers, wealthy execs have helped trigger a spike in high-value defined benefit pension transfers.
As reported in Financial Adviser's front-page exclusive, Dominic James Murray, independent financial adviser at advice firm Cameron James, said the company had experienced a notable uplift in large DB cash-equivalent transfer values for its clients, with some reaching £1m to £2m in value.
The average transfer value at the company now stands at £435,000, almost double the £243,000 valued before the Covid-19 crisis hit, he said.
Elsewhere in the paper, financial advisers told of a proliferation of misleading insurance adverts appearing across social media platforms, often targeting the young with unrealistic premiums quoted in the adverts.
This is despite Financial Adviser bringing this issue to the fore in April, when we warned of opportunistic introducers and lead generators using the Covid-19 lockdown to their advantage by taking out cheaper-than-usual advertising across platforms such as Facebook and Twitter.
You can read both stories here, in the digital version of this week's paper. To get this digital version delivered to your inbox, simply complete this form here.
Also in this week's print edition was an exclusive news analysis on the investment hotspots around the world, as marked out by consultancy Kroll's interactive 'heat map', alongside interviews, in-depth features and a round-up of charitable endeavours undertaken by our financial adviser community.
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In the meantime, please stay safe and healthy, both you and your families.
Simoney Kyriakou, editor, Financial Adviser
