Letter of authority

Rialto02

I am in the process of selecting an IFA to potentially transfer my Pension, to help me decide I want to enable them to have all of the necessary information about my Defined benefits scheme so we can have an informed conversation re proposals and associated charges.  Is it therefore possible to issue a LoA for information only to more than one IFA at a time?

Silvertabby

Speaking from the perspective of a (retired) LGPS administrator, if we received more than one IFA/CETV request in 12 months we would advise the member to give copies of the original report to the new IFAs.  Otherwise, we would have to charge an admin fee for each subsequent report.
Are you sure that you will have a number of IFAs to choose from?  It would appear that fewer and fewer are willing to take on DB transfers, largely because of the huge increases in their liability insurance premiums.

Rialto02

One will do the transfer the other will refer it to someone who does then manage the investment should I choose to transfer funds

Silvertabby

Then surely the one who will do the transfer (should he/she agree that that would be an appropriate course of action for you) will just pass on copies of all the paperwork to the investor?