ADVISERS HIT BACK

TWO firms under fire amid concern over advice to British Steel Pension Scheme members have hit back at critics.

Unregulated financial planner Celtic Wealth directed clients to Active Wealth, which has been suspended from taking on pension transfer business.

Both refused to turn up to the Work and Pensions Committee last week. But in a letter to MPs, Celtic Wealth managing director Clive Howells said it was victim of a ‘malicious and sustained attack’.

He rejected reports chicken and chips had been laid on for Tata employees – but accepted sausages and chips had been supplied at local meetings.

Darren Reynolds, director of West Midlands-based Active Wealth, accused critics of a ‘barrage of innuendo, twisting and downright lies’.