He said TVAS reports should remain compulsory, but added cashflow modelling could also be made compulsory. He also raised the possibility of requiring advisers to tape record all conversations with clients - something he already does with his own clients.
On the FCA's default position that DB transfers will leave the member worse off, Mr Ariyawansa said: "Considering you are giving up a guarantee and going into something where there is a conflict of interest, with fees and ongoing advice, I think it is a good starting point."
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james.fernyhough@ft.com
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