DB Transfer - Likely outcome of IFA review

soulsaver

Dark_Sunday wrote: »

Is there a list of such schemes ? The ones I contacted thus far won't accept DB transfer unless IFA outcome is in the minority 10% of "YES" to transfer.

This makes a mockery of the 3% IFA fee. You have a DB pension, decide to transfer, legislation stipulates you must have IFA assessment, IFA says "NO", takes the 3% fee & you transfer anyway. Doesn't make any logical sense. Before anyone jumps down my throat, I'm not impying it's the fault of the IFA.

I don't know of a list, but AJ Bell will currently accept an insistent client with a negative recommendation.
PS You can get a lot better than 3% for a significant CETV.

jamesd

Dark_Sunday wrote: »

Is there a list of such schemes ? The ones I contacted thus far won't accept DB transfer unless IFA outcome is in the minority 10% of "YES" to transfer.

Here's a list from May 2015 of providers who'll take over £30k against advice: Aegon, Aviva, AJ Bell, Canada Life (case by case decision), Dentons (case by case decision), Friends Life. Of those only AJ Bell and Canada Life will accept transfers of up to £30,000 without advice.

See the link in my post for other lists, including those who will take transfers over £30k with the adviser recommending in favour of the transfer.