DB Insistent Client Transfer

TVAS

Just looked at your previous post.

If you succeed negotiate 0.25% rather than 0.5% Ongoing Adviser Charge. So £2,500 on 1k rather than £5,000. 

If you are adopting a low risk investment strategy to preserve wealth you need less investment advice because there will be less volatility on low risk funds. In the event of a Black Swan event (9/11, Covid 19, Credit Crunch, the unpronounceable Icelandic volcano) low risk funds are less affected.

You said family circumstances but it would have been better if you were specific which is why we are all anonymised. For me there are 3 reasons why a DB transfer is okay:

You have been diagnosed with a terminal illness and you want the death benefit in a lump sum rather than a regular pension or you have no dependants i.e. no wife, no children but you have other relatives that would only benefit if you transferred to a personal pension (A SIPP is a type of personal pension)

You want to start a business and you want to the pension to part fund the business premises. Doctors, Solicitors, come to mind.

You are an exceptional customer in in my opinion only exceptional customers can take high risk. These type earn above 100k p.a. have significant non pension assets and any debt is minimal. If they are younger they are similar on good earnings for their age. They have understanding of risk and they have taken risk in the past evidenced by a portfolio of stocks and shares ISAs, EIS, VCT products. They tend to be university educated, in senior manager/director roles or a business owner of multiple outlets.  The pension of these types and the fund is a substantial amount. However if the whole amount was lost, they still have other non pension resources to rely on so much so they will not be starving on the streets.

Albermarle

I worked for Fidelity a few years ago.
Not only do they not offer DB transfer advice

They do now .

https://www.fidelity.co.uk/fidelity-retirement-service/

Thrugelmir

candie01 said:

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?

Be better to start your own thread than ask this question multiple times on random threads started by other another forumite.