DB Insistent Client Transfer

JohnTbye

Looking for suggestions on options for DB transfer. Due to current guidelines it will probably have to be actioned as an insistent client. Looking for options that meet the advise requirements and companies who will accept insistent clients.

dunstonh

The answers will be the same as all the other recent threads on the subject.  Nothing has changed in the last few days to make them out of date.  A quick search will give the answers you are looking for.

JohnTbye

I did do that before posting but could only find mention of Pensionhelp and AC Bell. Was hoping there were other suggestions. I am not interested going through the stakeholder pension route.

tacpot12

You only need these suggestions. Try them, let us know what Pensionhelp say. The only other option is to call round all the IFAs in your area (or at least that ones that have Pensions Transfer specialists), and get a quote for the advice. Don't mention that you expect you will be an insistent client. Go into the advice process with an open mind, but tie them into completing the paperwork your DB scheme needs as part of the cost of the advice.  

Dox

JohnTbye said:

I did do that before posting but could only find mention of Pensionhelp and AC Bell. Was hoping there were other suggestions. I am not interested going through the stakeholder pension route.

In that case AJ Bell will be your only choice if you want to transfer to a SIPP. 

You are likely to struggle to find anyone who is interested in advising, but be aware that no sane adviser is going to accept someone who asks if they will accept an insistent client. Until you've actually received the advice, you need to be just 'a client'. 

Marcon

JohnTbye said:

Looking for suggestions on options for DB transfer. Due to current guidelines it will probably have to be actioned as an insistent client. Looking for options that meet the advise requirements and companies who will accept insistent clients.

According to your previous thread last month you've already had the discussions and the IFA 'agreed your proposal'": https://forums.moneysavingexpert.com/discussion/6203577/another-but-different-db-transfer-topic#latest

I didn't bother to plough through the whole 7 pages of that thread, but I what's changed with that IFA?

JohnTbye

They have let me down a few times so just looking at options.

Albermarle

This well known SIPP provider and very large company , appear to offer DB transfer advice as part of their 'Retirement Service'
 Fidelity Pension Advice | Retirement Services | Fidelity
On the other hand their SIPP transfer T's & C's make it clear they do not accept insistent clients , so not sure how it all works in practice.

TBC15

I’d get your finger out and find an IFA willing to do the paperwork and transfer to AJ Bell. Doors are closing faster than they are opening!

candie01

JohnTbye said:

Looking for suggestions on options for DB transfer. Due to current guidelines it will probably have to be actioned as an insistent client. Looking for options that meet the advise requirements and companies who will accept insistent clients.

Did you transfer?

TVAS

I worked for Fidelity a few years ago.

Not only do they not offer DB transfer advice they don't even explain the options you have on a plan properly such as a S32 with a protection pension age of 50. They send the retirement letter at 55 years before the retirement age of the plan i.e. 60 instead of at age 45 as the ember can take benefits at 50.

Well don Macron for finding that original thread.

I would also point out that if you have not provided a reason for a DB transfer suggests there is absolutely NO reason to transfer at this juncture.

I have reviewed insistent DB transfers in the past. When you read the file you see the customer going mental and insisting on transfer. When you read their complaint letter (when the fund significantly falls in value) they pretend they were never insistent.

Advisers need to learn to walk away from bad business.