He said while Mr H based his decision on the original paperwork he received from Suffolk Life, transfer documents flagging possible charges were shared before he made a final decision.
Mr Arter said: "I can appreciate when reading the documents why Mr H may have perceived that there would be no charges from Suffolk Life.
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"However there is nothing in the information provided which states that no fees would be applied by a third party.
"In fact, the document itself indicates that the investment or fund manager may decide to charge a fee. If Mr H was unsure, he should have questioned this with Selftrade."
emma.hughes@ft.com
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