Who will accept a DB to SIPP transfer from "insistent client"

xylophone

Do you actually have the required written statement from the adviser giving his FCA registration number and confirming


that he has provided Lewis P9 with financial advice on the proposed transaction (the transfer of safeguarded benefits from XYZ Pension Scheme);

that he has the appropriate permissions to carry out the transaction?

You will need to give this to the Administrator of the ceding scheme before the transfer will be permitted.

RoadToRiches

lewisp91 said:

AJ Bell has confirmed they will transfer in a DB pension from an Insistent Client recommended NOT to transfer without further IFA involvement. Their charging structure is a bit of a minefield on first analysis but that wouldn't be for long though.
Fidelity, Cavendish, Xafinity, HL, ii all said NO. Thank you for useful factual advice above.

Useful to know, thanks for sharing. I prefer ii given their charges would work out much cheaper for me.  Just hope the IFA I have lined up next week is from Del Monte. But this now gives me alternative options.

bowlhead99

RoadToRiches said:
Just hope the IFA I have lined up next week is from Del Monte. 

You plan to use the CETV to invest in central american tomato plantations?

NottinghamKnight

Pineapples surely?

JoeCrystal

Hopefully, they are not going banana over it!

xylophone

The man from Del Monte he say 
https://www.youtube.com/watch?v=BUNmNLdffaM
Like the TSB?
https://www.youtube.com/watch?v=X7oQYKUL7ys

RoadToRiches

TSB is not like it used to be back when that commercial was aired in the 80s

xylophone

TSB is not like it used to be

Is anything?

omelettesandeggs

lewisp91 said:

Dox wrote: »

If you are determined, then the simple answer is transfer to a stakeholder pension scheme (the only type of registered pension scheme which must accept a transfer from another UK registered scheme). Then transfer to your preferred SIPP (no exit fee permitted on a stakeholder).

You still need to show the DB scheme that you have received financial advice - but you don't need to have followed it.

Any recommendations for a Stakeholder Pension with no exit fees and low management charges gratefully accepted

Did you find a solution to getting your DB transferred out in the end? We're on a similar journey....

Brynsam

omelettesandeggs said:

lewisp91 said:

Dox wrote: »

If you are determined, then the simple answer is transfer to a stakeholder pension scheme (the only type of registered pension scheme which must accept a transfer from another UK registered scheme). Then transfer to your preferred SIPP (no exit fee permitted on a stakeholder).

You still need to show the DB scheme that you have received financial advice - but you don't need to have followed it.

Any recommendations for a Stakeholder Pension with no exit fees and low management charges gratefully accepted

Did you find a solution to getting your DB transferred out in the end? We're on a similar journey....

If you're determined to transfer, then DB (who need to confirm you have received advice if your transfer is £30K+) to Prudential stakeholder, followed by stakeholder to SIPP, will do the job.