Financial planners have sought to learn the lessons of what wrong for the steelworkers at Port Talbot so that both clients and the advice profession can begin to move forward.

    The Great Pension Debate, a two-day conference dedicated to tackling the challenges surrounding defined benefit transfer advice, was held in the shadow of the Port Talbot steelworks last week.

    Here, Informed Choice managing director Martin Bamford, captures the mood from the floor. 

    http://traffic.libsyn.com/informedchoice/ICR337_What_went_wrong_in_Port_Talbot.mp3

    While primarily aimed at consumers, the podcast contains some useful takeaways from advisers and some of the key highlights from the two days of debate.

    Martin neatly explains the backdrop to the British Steel saga, and pays homage to the work of Echelon Wealthcare founder Al Rush for organising and hosting the event, which included speakers such as BBC Moneybox presenter Paul Lewis and Clive Gordon and Chris Hewitt from the FCA.

    Delegates also heard heartfelt stories from the steelworkers themselves about the poor advice they received. 

    Martin reflects on the importance of events like The Great Pension Debate, understanding how advice can go so badly wrong and how we can try and prevent history repeating itself. 

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