As part of their commitment to the highest professional standards, Dorset based financial advisers Strategic Solutions are one of the first companies to have adopted the Pension Transfer Gold Standard.
The Gold Standard is a voluntary code of good practice from The Pensions Advice Taskforce (an industry backed initiative from the Personal Finance Society) for safeguarded and defined benefit pension transfer advice, based around a set of nine principles.
Strategic Solutions have agreed to adopt and promote this standard and principles, so that clients can better understand and seek out good advice and be confident they are dealing with a firm that is going beyond minimum requirements when giving financial advice on pension transfers.
Pension transfers can be complicated and there are lots of things to think about before going ahead. Seeking professional financial advice will help consumers ensure that they are better able to make a fully informed decision that is in their best interests.
Taking regulated financial advice is now compulsory for anyone looking to transfer ‘safeguarded’ benefits of more than £30,000. This rule was introduced by the Financial Conduct Authority to protect consumers and ensure that they are aware of all the pros and cons of transferring.
The Pension Transfer Gold Standard is intended to help consumers recognise good practice as well as ethical and professional standards when seeking financial advice on pension transfers.
Unfortunately, not all financial advisers have acted with their client’s best interests at heart with Final Salary pension transfers.
The Pension Transfer Gold Standard is the profession’s response to this, and it is a way of enhancing consumer awareness and protection in areas of complex pension advice.
To find out more about Pension Transfers and to speak to one of our advisers please contact us today on 0800 160 1800