What does PII Cover?
Inappropriate Pension Switching or Transfer Advice
Failure to assess suitability, or to adequately justify transferring a defined benefit pension.
Poor Investment Advice
Recommending products outside the client’s risk profile or capacity for loss.
Negligent Tax or Trust Advice
Incorrect guidance on IHT planning, trust structures, or pension lifetime allowances.
Corporate Finance or Insolvency Advice
Claims arising from M&A, restructuring, or insolvency guidance that fails to protect client interests.
Errors in Mortgage Advice
Failure to consider fixed vs variable rates, affordability checks, or future interest rate sensitivity.
Regulatory Investigations & FCA Complaints
FCA inquiries, FOS complaints, or thematic reviews trigger the need for legal support.
Financial Advisors
At WK Professional Risks, we specialise in arranging insurance for Independent Financial Advisers (IFAs) and financial planning firms — from small boutiques to multi-adviser firms authorised directly by the FCA or operating as appointed representatives.
With deep knowledge of FCA-regulated sectors and access to specialist underwriters in the London and Lloyd’s markets, we understand the scrutiny IFAs face. Whether your advice relates to pensions, investments, mortgages, protection, or DB transfers, we make sure your cover responds when you need it most — and that your terms align with your regulatory obligations.
What we offer
01
London Market Access
We have direct access to PI insurers who truly understand the financial advice sector, including past exposures and claims trends in pensions, DB transfers, and structured investments.
02
Policy Wordings That Align With FCA Rules
We review and compare wordings to ensure they meet the FCA’s requirements, including adequate limits, continuous cover, and definitions broad enough to capture your regulated activities.
03
Support with Complex or High-Risk Advice Areas
We help IFAs navigate exclusions and endorsements related to DB transfers, UCIS, VCTs, EISs, or high-net-worth investment strategies.
04
Continuity Planning
We provide strategic guidance and quotes for run-off cover when closing, selling, or retiring — helping firms meet FCA wind-down planning requirements.
05
Responsive Claims Support
Should a claim arise, our team ensures you’re represented clearly and accurately from first notification through to resolution.