Pension transfer confusion

atush

And you lost compensation buy using a PPI firm. Could have done it yourself.

SonOf

I suspect that the CMC obtained consent to pass details to their linked advice firm. So, legally, it is likely to be sound.

OMW platform only allows regulated UT/OEICs to be held on it. So, the investments are unlikely to be an issue.

What is an issue is that IFAs have been leaving OMW. Once upon a time, OMW (in its Selestia then later Skandia branding) was an advanced investment platform. Now its software is dated (about to be changed in the coming months) and its charges are no longer competitive. Nowadays, it is mainly restricted FAs from the Instrinsic network that use OMW (both part of the same group) and usually they use in-house funds (so effectively, the adviser, platform and funds are all the same thing).

Just in case someone with OMW already and is reading the above, there are some caveats to this (such as if you are Charge basis 1 or 2 and using tracker funds - that was a loss leader for OMW and dirt cheap. Worth staying on if you have it).

So, if the OP has been recommended Cirrilium funds on the OMW platform and the adviser is from the intrinsic network, then that is pretty much a good reason not to do it.