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

RoadToRiches

stardust23 said:

Pablo7474 said:

Poor stardust, all that fancy silverware he could have bought. 

Rather that (and crypto) than fiat money, which will be worthless soon.

Crypto markets, Bitcoin and Etherium trackers were removed by FCA from pension funds already so you have no chance.

jamesd

stardust23 said:

(I just want to get my money out of my DB and eventually into a SIPP so I can it invest in precious metals, primarily gold).

You should expect that any adviser you tell about that will refuse to take DB business from you, except, possibly, to sell you abridged advice which will be not to transfer and can't be used as proof of advice to enable a transfer. This is because there is no possibility that a transfer can be regarded as in your interests.

There is no credible chance that the fiat currencies will fail though there are always people trying to make it seem credible and making noise about it, particularly those promoting alternative investments said to protect against it.

All, remember that we're required by the forum rules to be nice, which means no personal attacks among other things, even if we think someone wants to act in ways we think are unwise.

Thrugelmir

stardust23 said:

Pablo7474 said:

Poor stardust, all that fancy silverware he could have bought. 

Rather that (and crypto) than fiat money, which will be worthless soon.

Every generation has those that are born to lose money and need protection from themselves. All in the genes. 

QrizB

And the next time someone says "why do I need to take financial advice, I'm a responsible adult" we can point them over here.

Dale72

Now I never said that there aren't some cases where people shouldn't be protected from themselves, but at the end of the day should you effectively put a block on everyone just to protect a few.

Silvertabby

Reminds me of the LGPS deferred pensioner (pre pension 'freedoms') who wanted to transfer his considerable benefits into a South American teak plantation.  Not a HMRC tax approved scheme, so a direct transfer was never going to happen, despite the screams and complaints of ' If you'd transferred when I first told you to, my money would have nearly  doubled by now'.

Eventually transferred to a SIPP, with a view to transfer on to the teak scheme.  I would love to know how that panned out.

QrizB

Silvertabby said:

Eventually transferred to a SIPP, with a view to transfer on to the teak scheme.  I would love to know how that panned out.

Probably something like this:
https://forums.moneysavingexpert.com/discussion/6238506/advice-needed-chasing-fraudulent-teak-plantation-companies

Silvertabby

QrizB said:

Silvertabby said:

Eventually transferred to a SIPP, with a view to transfer on to the teak scheme.  I would love to know how that panned out.

Probably something like this:
https://forums.moneysavingexpert.com/discussion/6238506/advice-needed-chasing-fraudulent-teak-plantation-companies

Timing is right, so that could be it, thanks.  At least by transferring into a SIPP first, this chap shouldn't be able to claim 'lack of due diligence' against the LGPS.  Maybe.

mullsy

Does anyone on this forum know of a provider who will accept negative feedback. I believe that the rejection rate is as high as 97% with that in mind. the FCA forcing people to spend money on tacking advice is surely misleading pay your ten grand to be told no. only in exceptional circumstances eg imminent death or terminal illness  would be passed as a yes every otherone is a no.
No pension freedom here and by the way it doesnt apply to DB pensions, 

So what can you do?

mullsy

Does anyone on this forum know of a provider who will accept negative feedback. I believe that the rejection rate is as high as 97% with that in mind. the FCA forcing people to spend money on tacking advice is surely misleading pay your ten grand to be told no. only in exceptional circumstances eg imminent death or terminal illness  would be passed as a yes every otherone is a no.
No pension freedom here and by the way it doesnt apply to DB pensions, 

So what can you do?