Gaining control over my pension

xylophone

the poor old innocent IFAs are just caught in the middle the poor little lambs.

https://forums.moneysavingexpert.com/discussion/6293051/pension-has-finally-landed-as-an-insistent-client-acting-against-advice-doors-closed-03-09-2021/p42

Or are you saying that even if the adviser considers that a transfer is not in the best interests of the client, he should give a recommendation to transfer (because the route for an insistent client has obstacles)?

Dale72

No, I'm saying that the advisors advice should be clear honest and competent enough so the FCA don't subsequently find against them should the client complain, then we wouldn't be in this situation. What do you disagree with in that? 

Diplodicus

We're still waiting for xylophone's answer to a straight question on the other thread.

xylophone

Then you agree that - in practical terms - the recommendation will determine whether a client can transfer.
Which is it?

The above?

Have you actually read this

https://forums.moneysavingexpert.com/discussion/comment/78646950/#Comment_78646950

The adviser may recommend a transfer or he may not.

 The recommendation does not determine whether or not a client  may  transfer. The client is free to go against his adviser's recommendation.

That is a FACT!

It is also a FACT that  (currently)  if the recommendation is not to transfer,  the choice of accepting scheme is very limited.

Given the above, are you saying that because of the very limited choice available to "insistent clients", the FA should (out of sympathy with the client's wishes), go ahead and recommend a transfer against his better judgement?

DeadlyD

Evening, so the Pru doesn't look like an option and the Stakeholder pensions with SL & Aviva won't take on an insistent client without the IFA taking on the liability right? 
Today, armed with my new invaluable knowledge that I've gained through you lot I had a call with Pensionhelp - it was a recommendation on the other thread I first posted on. IFA was good explained how things are, listened to my circumstances and said don't be disheartened it seems viable I will get a recommendation, they do this all the time, seems a confident chap but of course until we have all the details he wont be able to give me a fair indication. So triage video completed. Await for next appointment. 
Then I was contacted by ukpensionhelp (I thought it was the same company) I downloaded from their web again from a link posted here. Very informative and they appear to be an organisation that recommends an IFA - so organising a call. I explained my predicament ie probably an insistent client wanted to transfer and they responded that there IFA would take on the liability to transfer. 
Seems to good to be true. thoughts ppl? 

Diplodicus

xylophone said:

Then you agree that - in practical terms - the recommendation will determine whether a client can transfer.
Which is it?

The above?

No this:

In the main, without a recommendation to transfer, clients currently are unable to transfer. Do you agree?

 are you saying that because of the very limited choice available to "insistent clients", the FA should (out of sympathy with the client's wishes), go ahead and recommend a transfer against his better judgement?

No. You keep trying to put words in people's mouths, the better to refute them.

As well as avoiding the questions you would rather not address.

Dale72

xylophone said:

 The recommendation does not determine whether or not a client  may  transfer. The client is free to go against his adviser's recommendation.

That is a FACT!

I thought thats exactly what it mean't , given that another last hope (the Pru) has just bitten the dust, the client can't go against the adviser's recommendation if no one will accept a transfer. 

Diplodicus

DeadlyD said:

Evening, so the Pru doesn't look like an option and the Stakeholder pensions with SL & Aviva won't take on an insistent client without the IFA taking on the liability right? 
Today, armed with my new invaluable knowledge that I've gained through you lot I had a call with Pensionhelp - it was a recommendation on the other thread I first posted on. IFA was good explained how things are, listened to my circumstances and said don't be disheartened it seems viable I will get a recommendation, they do this all the time, seems a confident chap but of course until we have all the details he wont be able to give me a fair indication. So triage video completed. Await for next appointment. 
Then I was contacted by ukpensionhelp (I thought it was the same company) I downloaded from their web again from a link posted here. Very informative and they appear to be an organisation that recommends an IFA - so organising a call. I explained my predicament ie probably an insistent client wanted to transfer and they responded that there IFA would take on the liability to transfer. 
Seems to good to be true. thoughts ppl? 

It may help to approach this from the point of view of what is good for the adviser, rather than what is good for you.

Be wary of opting for abridged advice, it would cost you a thousand and the only outcomes would be a recommendation not to transfer (to put with the two you have already) or an interim judgement of unclear.  If you are lucky, you will get a recommendation not to proceed; but far more likely is an unclear indication from which you would be encouraged to commit to the full six grand financial adviser fee.

Dale72

I did get an offer from an IFA of a free abridged service if the advice was not to transfer, but only on the condition that if full advice was to go ahead I move my dosh to him, didnt seem like a good deal at the time as AJ Bell was still available, but I would probably consider it now.

xylophone

I had a call with Pensionhelp - it was a recommendation on the other thread I first posted on. IFA was good explained how things are, listened to my circumstances and said don't be disheartened it seems viable I will get a recommendation, they do this all the time, seems a confident chap but of course until we have all the details he wont be able to give me a fair indication. So triage video completed. Await for next appointment. 

Then you wait and see,

Then I was contacted by ukpensionhelp (I thought it was the same company) I downloaded from their web again from a link posted here. Very informative and they appear to be an organisation that recommends an IFA - so organising a call. I explained my predicament ie probably an insistent client wanted to transfer and they responded that there IFA would take on the liability to transfer. 

Hm.

They will recommend an IFA who will facilitate the transfer even if his recommendation is not to transfer?