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Old Mutual Wealth to charge £150 for TVAS reports

Tablet-Technology-Computer-Business-700x450.jpgOld Mutual Wealth has launched a new transfer value analysis service after suspending its old service in March.

Old Mutual Wealth stopped all transfer value analysis report services after the FCA said such offerings could act as inducements in it’s policy paper on defined benefit transfers.

Standard Life, Prudential, LV= and Scottish Widows also suspended their TVAS services after the report.

Under its new service, Old Mutual will charge for its transfer value analysis service and reports.

Each report will cost £150 plus VAT. The charge covers the cost of the TVA team, the software and the production of the report.

The new service will be offered from 14 May.

Old Mutual Wealth UK distribution managing director Scott Goodsir says: “A final salary transfer is often the most important piece of advice that a client will ever receive and having all the right information is crucial. Our new TVA service will help us support advisers and their clients as demand for this advice continues to surge.”

 He adds: “The accurate production of a TVA report is a key element of the DB to DC pension transfer process and our 12 strong TVA team are well-equipped to provide swift and accurate analysis.”

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