Wealth Management

Introducing Abridged Advice for DB Pension Transfers

By October 19, 2020 October 22nd, 2020 No Comments

Abridged Advice: new DB Pension Transfer advice pathway has arrived

1st October marked a significant change in the way that  DB Pension Transfer advice (also known as Final Salary Pension Tranfsers) is provided.

The Financial Conduct Authority has made good on their commitment to ban contingent charging  on DB Pension Transfer advice, marking one of the most significant interventions in the advice industry since the ban on commission in 2012.

Regulatory interest, increasing costs and greater risk (particularly adviser Professional Indemnity Insurance) has led to increasing numbers of advisers to leave the DB Pension Transfer advice market. However, as a leading adviser in this field, Creative remains committed to this market and we continue to work with increasing numbers of advisory firms to provide a solution to their clients.

Abridged Advice at a glance

On 1st October we launched our Abridged Advice service, providing a low cost way for clients to obtain an expert view on whether a transfer might be in their interests or whether their investigations should end there, saving them needless further time and costs.

While Abridged Advice cannot include the preparation of the Appropriate Pension Transfer Analysis (APTA) or the Transfer Value Comparator (TVC), our robust triage and information gathering processes ensure that, to as great an extent as possible, all ‘do not transfer’ cases are identified early in the process thereby avoiding unnecessary costs and disappointment for your clients.

Our introducer process includes:

  • An optional share of initial and ongoing fees for introducers
  • Non-compete arrangements in place
  • Named adviser for each case submitted

By referring your clients to us, you can rest assured they have been passed to one of the UK’s leading pension transfer specialist firms.

Our credentials include:

  • Over 100 years’ collective professional experience advising clients on pension arrangements
  • Whole of market
  • Chartered Finacial Planners, and
  • Holders of the Pension Transfer Gold Standard

If your financial advice business has cases where clients are considering their options as regards their DB arrangements, why not partner with Creative? Find out more and refer your clients here. 

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