Total transfers linked to her advice topped £126 million. On top of that, both Dunne and Fenech submitted a backdated appointed representative agreement to the FCA — something the Tribunal called dishonest, full stop. Defined benefit pension transfers are one of the areas where the regulator has been most aggressive, and for good reason. Pension advice sits at the intersection of technical complexity and serious personal consequence — a bad recommendation at 55 can wreck someone’s retirement at 75. Between April 2015 and June 2017, Dunne’s advice led to transfers exceeding £126 million out of defined benefit pension schemes, with 92% of her clients moved out of those schemes during that period.