CETV minimum transfer value

Stubod

Hi,
..my current FA has advised they will not consider doing a CETV unless the total amount is for more than £180k... is this normal?

Dorian1958

Just starting to look at this myself. IFA I am looking at has a minimum CETV requirement of £100k, so it must vary. Suppose it just depends on how they have assessed at what level it is worth them taking a risk of providing their advice and how they structure their charges. Once I get my CETV then I will go and make appointments to discuss.

bigadaj

It's probably just a function of the minimum fee level they deem necessary, either per job or also, and more probably, for high risk investments.

3% of £180k is just iver £5k so a figure they've deemed appropriate, they would probably do a lower figure but for a similar fee, so appearing excessive in percentage terms.

Different companies will have varying business models, it's worth shopping around to see if one meets your requirements or expectations.

Stubod

Hi both and thanks for the replies

dunstonh

Stubod wrote: »

Hi,
..my current FA has advised they will not consider doing a CETV unless the total amount is for more than £180k... is this normal?

A lot of IFAs will only deal with clients with an investment amount above a certain value.

The FCA certainly prefers people with lower levels of income to remain on secure income. Although no figures are given and there are plenty of scenarios where that doesnt matter. So, you would expect a case by case basis rather than a blanket internal rule.

Maybe your IFA doesnt do DB transfers and uses someone else and they have a minimum figure.

The term IFA covers many different business models. Some focus on high net worth. Some focus on the average consumer. Some have a tight model that you have to fit. Some will take nearly anybody.