Insistent client

candie01

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 

IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Marcon

candie01 said:

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 

IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Being 47 isn't the issue - or at least that alone won't mean you get the recommendation not to transfer.

If you want to transfer your funds to AJ Bell, move your CETV to a stakeholder pension (which must accept transfers from any UK registered pension scheme - you'll still need advice to give to the DB scheme if your CETV is over £30K), which is a DC arrangement. You can then move from that (no exit penalty on a stakeholder) to AJ Bell.

AlanP_2

If your IFA is suggesting who you move it to then surely they are not expecting to give you a negative?

Marcon

AlanP_2 said:

If your IFA is suggesting who you move it to then surely they are not expecting to give you a negative?

For more info, read OP's other thread (or at least his opening post): https://forums.moneysavingexpert.com/discussion/6261132/db-transfers/p1

xylophone

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 
IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Are you saying that you have engaged a Pension Transfer Specialist, he has given  the "thumbs down" as it were but has told you that this pension specialist group (?) will accept the transfer regardless?

Do you have a link to the pension specialist group in question?

candie01

AlanP_2 said:

If your IFA is suggesting who you move it to then surely they are not expecting to give you a negative?

He said even with a no I can still transfer as an insistent client to this company who will be the trustees. But I can still use AJ bells platform for investments. 

candie01

xylophone said:

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 
IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Are you saying that you have engaged a Pension Transfer Specialist, he has given  the "thumbs down" as it were but has told you that this pension specialist group (?) will accept the transfer regardless?

Do you have a link to the pension specialist group in question?

Yes that is what he said and that's what he said. 

candie01

candie01 said:

xylophone said:

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 
IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Are you saying that you have engaged a Pension Transfer Specialist, he has given  the "thumbs down" as it were but has told you that this pension specialist group (?) will accept the transfer regardless?

Do you have a link to the pension specialist group in question?

Yes that is what he said and that's what he said. 

And that's the name of the company. 

candie01

Marcon said:

candie01 said:

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 

IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Being 47 isn't the issue - or at least that alone won't mean you get the recommendation not to transfer.

If you want to transfer your funds to AJ Bell, move your CETV to a stakeholder pension (which must accept transfers from any UK registered pension scheme - you'll still need advice to give to the DB scheme if your CETV is over £30K), which is a DC arrangement. You can then move from that (no exit penalty on a stakeholder) to AJ Bell.

I've spoken to 25 financial advisers who refused to advise me based on age. 2 said they would advise and it would be a no. 

candie01

Marcon said:

candie01 said:

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 

IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Being 47 isn't the issue - or at least that alone won't mean you get the recommendation not to transfer.

If you want to transfer your funds to AJ Bell, move your CETV to a stakeholder pension (which must accept transfers from any UK registered pension scheme - you'll still need advice to give to the DB scheme if your CETV is over £30K), which is a DC arrangement. You can then move from that (no exit penalty on a stakeholder) to AJ Bell.

Thanks, I should look into that. 

squirrelpie

candie01 said:

candie01 said:

xylophone said:

I was about to transfer my defined benefit pension to aj bell and they announced yesterday they'll no longer accept insistent clients. I'm 47 so won't get a positive report. What now? Any advice appreciated. 
IFA has suggested I move my pension to the pension specialist group..anyone heard of them?

Are you saying that you have engaged a Pension Transfer Specialist, he has given  the "thumbs down" as it were but has told you that this pension specialist group (?) will accept the transfer regardless?

Do you have a link to the pension specialist group in question?

Yes that is what he said and that's what he said. 

And that's the name of the company. 

xylophone asked for a link [to their website] not for their name.