Pension has finally landed - As an insistent client acting against advice -*DOORS CLOSED 03/09/2021*

zagfles

Diplodicus said:

Albermarle said:

Diplodicus said:

Well done, RoadToRiches, pleased for you.
Yes good info and the mystery provider is revealed . I think PensionBee are being floated so maybe they are keen to get the assets under management/ customers numbers  up as high as possible

Hopefully your example will benefit other insistent clients and preserve what is left of the integrity of the DB Pension Transfer Advice process. I see Pensionbee impose no exit fee. That's good.

But the real thanks to you is due from the board's financial services representatives; at least now they can look their clients in the eye and tell them the final decision is theirs to make and there is, for now, a viable way forward.

On the final point, as far as I am aware there are only three financial advisors who contribute to the forum, and only one regularly.

Sorry, Albermarle, I was including their wider support squad on this forum.

Not advisers themselves, they nevertheless rush to their side for a couple of distinct reasons

a) They employ (I) FAs themselves and would rather reassure themselves that that is well spent money.
b) They value their expertise and hope to garner it free on this board via flattery, "where thrift may follow fawning."

Point, Albermarle?

a) I don't think many here use IFAs, why have a dog and bark yourself?

b) I seem to spend more time correcting IFAs than learning from them

grumiofoundation

Albermarle said:

Diplodicus said:

Albermarle said:

Diplodicus said:

Well done, RoadToRiches, pleased for you.
Yes good info and the mystery provider is revealed . I think PensionBee are being floated so maybe they are keen to get the assets under management/ customers numbers  up as high as possible

Hopefully your example will benefit other insistent clients and preserve what is left of the integrity of the DB Pension Transfer Advice process. I see Pensionbee impose no exit fee. That's good.

But the real thanks to you is due from the board's financial services representatives; at least now they can look their clients in the eye and tell them the final decision is theirs to make and there is, for now, a viable way forward.

On the final point, as far as I am aware there are only three financial advisors who contribute to the forum, and only one regularly.

Sorry, Albermarle, I was including their wider support squad on this forum.

Not advisers themselves, they nevertheless rush to their side for a couple of distinct reasons

a) They employ (I) FAs themselves and would rather reassure themselves that that is well spent money.
b) They value their expertise and hope to garner it free on this board via flattery, "where thrift may follow fawning."

Point, Albermarle?

A very Zingy post 

Some would say a Powerful post indeed  

jamesd

Diplodicus said:

The real reason for DB pension transfer advice is that the client is compelled to buy it. ...

The FCA even said it was usually a compelled rather than voluntary purchase in that situation, in their contingent charging consultation original paper.

smc4761

I was on the Pensionbee website today and had a "chat" with someone there. They certainly said all the right things for me and they certainly seem like a good option for when i come to transfer my DB pension.

Does anyone have any experience of using Pensionbee

I am also looking for an IFA and have seen the website, unbiased.co.uk. Has anyone any experiences of using them, good or bad. Thanks

RoadToRiches

I am currently with them, transfer from DB scheme went in fine as insistent client. They may want to see your IFA report, but even if that is the case even with a recommendation to not proceed they will act on your instructions. Well they did with me.

xylophone

You could also try 

https://adviserbook.co.uk/

Tick "confirmed independent" and "pension transfer" when the menu comes up.

dunstonh

I am also looking for an IFA and have seen the website, unbiased.co.uk. Has anyone any experiences of using them, good or bad. Thanks

unbiased is no longer an IFA directory but more of a lead generation site. It also includes FAs nowadays. Most of the  IFA firms I know locally and consider decent no longer pay to appear on unbiased.   It tends to be the regionals, nationals and the desperate.    Most IFA firms will appear if you untick the option to show all adviser firms, including those that don't pay unbiased.

I would be more inclined to use a different directory or even google local firms.

Diplodicus

xylophone said:

You could also try 

https://adviserbook.co.uk/

Tick "confirmed independent" and "pension transfer" when the menu comes up.

Could you remind me why choosing an IFA over an FA is a requisite for the DB Pension Transfer Advice experience?

eskbanker

Diplodicus said:

xylophone said:

You could also try 

https://adviserbook.co.uk/

Tick "confirmed independent" and "pension transfer" when the menu comes up.

Could you remind me why choosing an IFA over an FA is a requisite for the DB Pension Transfer Advice experience?

Who said anything about a requisite? The above was an accurate answer to a poster specifically looking for where to find an IFA:

smc4761 said:

I am also looking for an IFA....

Diplodicus

Or why an IFA is considered preferable for the job?

I had a vague notion that this was a regular refrain from xylophone but may be mistaken; so many candidates, so answer open to all, of course.