DB TV Case Reviews

Access our pension technical expertise to link up with your SMART pension advice

The most robust defined benefit transfer cases identify a specific need and subject it to appropriate challenge where necessary. They set out why it cannot be met via the existing scheme and how the proposed transfer would enable the client to better achieve an end appropriate to their circumstances.

We’ll provide you with a robust assessment of the suitability.

Why?

If you need to focus your mind, have a look here:

FCA visits DB transfer advisers as supervision stepped up

COBS 19.1.6 states categorically that when a firm is making a personal recommendation for a retail client in relation to the transfer of safeguarded benefits, the firm should start by assuming that a transfer, conversion or opt-out will not be suitable.

The firm should only consider the transfer if it can clearly demonstrate, on contemporary evidence, that the transfer, conversion or opt-out is in the retail client’s best interests. To demonstrate which, the firm should consider factors including the retail client’s attitude to and experience of managing investments or paying for advice on investments so long as the funds last.

Experience is a crucial point in making a defined benefit transfer recommendation: are you giving it sufficient attention and critically analysed your case?

Would you like a second opinion, before you get the FCA opinion?

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