DB pension transfer

Benny2020

Looking for some links to companies that do DB pension transfers for insistent clients as i don't want to spend money and be told can't transfer.
Any one with experience of doing this?.

JoeCrystal

There is one provider that comes to mind. I suggest you use the search function and read through the threads. They are quite educational.

xylophone

https://www.pruadviser.co.uk/knowledge-literature/knowledge-library/pension-transfers-conversions/
You have a DB pension with benefits valued in excess of £30,000?
You will need a Pension Transfer Specialist.
Before engaging the PTS, you need him to confirm to you that regardless of whether his advice is positive, he will still provide you with confirmation (in a form acceptable to the ceding and receiving scheme) that the required advice has been obtained.
https://adviserbook.co.uk/ You would tick "confirmed independent" and "pension transfer" when the menu comes up.

[Deleted User]

"Before engaging the PTS, you need him to confirm to you that regardless of whether his advice is positive, he will still provide you with confirmation (in a form acceptable to the ceding and receiving scheme) that the required advice has been obtained."
Spot on xylophone.
This is crucial.
If you don't have an adviser who will do this, all companies will refuse your transfer as an insistent client, with the exception of AJ Bell.

[Deleted User]

I'm with Xafinity Simply SIPP. 
I manage it through my stockbroker. 

HappyHarry

xylophone said:

Before engaging the PTS, you need him to confirm to you that regardless of whether his advice is positive, he will still provide you with confirmation (in a form acceptable to the ceding and receiving scheme) that the required advice has been obtained.

The FCA are very clear that If an adviser has given advice, they must also confirm they have given advice. There should be no advisers refusing to sign confirmation paperwork.

[Deleted User]

"The FCA are very clear that If an adviser has given advice, they must also confirm they have given advice. There should be no advisers refusing to sign confirmation paperwork."
Not altogether so, HappyHarry. For example, Hargreaves Lansdown will not. They provide a declaration but will not sign a transfer-in form of another provider. It was taken to the Ombudsman and it found for HL.
So I would double-down on xylophone's clear advice:
Before engaging the PTS, you need him to confirm to you that regardless of whether his advice is positive, he will still provide you with confirmation (in a form acceptable to the ceding and receiving scheme) that the required advice has been obtained.

SonOf

Not altogether so, HappyHarry. For example, Hargreaves Lansdown will not. They provide a declaration but will not sign a transfer-in form of another provider. 
Please will you stop giving this misinformation on threads.  HL will provide the declaration as required.  However, some providers will  a) will only accept business if an adviser accepts liability for the whole transaction (i.e. provider and investment choice).   No adviser should sign a declaration from a provider unless they are giving advice in those areas as well.
b) some providers will not accept "do not transfer" recommendations. Even from insistent clients
The FOS found against you as HL did not have an issue confirming that they gave advice.

HappyHarry

If that's recent, then they are breaking FCA rules. A client could have a field day with that.

(Edit: Responding to ZPZ's comment above)

[Deleted User]

SonOf said:

Not altogether so, HappyHarry. For example, Hargreaves Lansdown will not. They provide a declaration but will not sign a transfer-in form of another provider. 
Please will you stop giving this misinformation on threads.  There is no misinformation from me, only from SonOf; the fact is that HL will not sign a transfer-in form of another provider.
HL will provide the declaration as required.  However, some providers will  a) will only accept business if an adviser accepts liability for the whole transaction (i.e. provider and investment choice).  That wasn't what Xafinity wanted from HL. What Xafinity wanted from HL was an adviser signature on page 4 of their application form from to confirm either
1. Did you recommend the safeguarded transfer(s) detailed in the form?
2. if no to 1. above, have you advised against the transfer in writing (including having carried out a full analysis as required by the FCA rules) and have you recorded this as an insistent customer? 

Xafinity were not asking for advisers to take responsibility for anything more. 

  No adviser should sign a declaration from a provider unless they are giving advice in those areas as well.  Why not?
Again, the declaration is not asking the adviser to take on any liability.
b) some providers will not accept "do not transfer" recommendations. Even from insistent clients 
Don't I know it! I don't want benny or anyone else chasing around trying to find a home for a pension before the CETV deadline. So you're probably going to see these facts repeated more regularly, SonOf.
The FOS found against you as HL did not have an issue confirming that they gave advice. True.

[Deleted User]

HappyHarry said:

If that's recent, then they are breaking FCA rules. A client could have a field day with that.

(Edit: Responding to ZPZ's comment above)

It was March 2018. 
I have just looked at the Xafinity application form and it has been amended from the above. Now it needs a positive recommendation; it didn't then.  Another one gone, sadly. I don't know now who will accept insistent customer DB transfers, AJ Bell excepted. 
You are an IFA, HappyHarry, can you enlighten us please?