Pensions panel picks Reynolds Porter

Reynolds Porter Chamberlain and Addleshaw Booth & Co have won panel places to advise on pensions miss-selling.

The Pensions Advisory Support Service (Pass) was set up in 1998 by the Liffe offices to offer financial advisers information and advice on pensions review.

The companies involved with Pass, which include Norwich Union and Standard Life, provide most of the funding, although the body charges for some services like loss assessment.

The organisation also has a brokerage service for advisers needing legal help. Addleshaws and Reynolds will provide advice on miss-sold pensions and professional indemnity.

Pensions partner Jonathan Davies is working on the panel for Reynolds. Partners Rachel Rawnsley and David Griffiths, both in the pensions group, are involved with Pass for Addleshaws. They are based at the firm's Leeds and Manchester offices respectively.

The pensions review was started by the Financial Services Authority (FSA) in 1994. It requires all advisers to go back and check that the advice they gave when selling pensions was compliant with the regulator's rules at the time.

If the advice was not correct the IFA is required to assess how much loss has occurred to the investor.

The FSA has set a deadline of 2002 by which all outstanding compliancy claims must be completed. A spokesman for Pass says the organisation is “extremely busy”.

Addleshaws confirms it has won a place on the panel but refuses to comment further. Reynolds also refuses to comment.