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Online pensions referral service launched

Consumer pension evaluation service www.comparemypension.com’s founder Douglas Baillie has launched a new online service called www.thepensionspecialist.com, aimed at professional introducers and their clients.

Baillie claims the service opens up a new revenue stream for advisers who are not qualified to give pensions advice by providing them with direct access to an active on-line pension advice service.

It offers occupational transfers, personal pension transfers and S32 transfers for pre-retirement clients as well as advice on accessing tax-free cash, income drawdown, phased retirement and annuity purchase for clients at retirement.

The service charges a sliding scale fee depending on the size of the transfer value or the purchase price. This fee is fixed regardless of the total commission or fee charged, leaving the remainder to be retained by the introducer.

Baillie says thepensionspecialist.com gathers the relevant information for each client introduced, evaluates their existing arrangements and then generates written recommendations in a bespoke report for each client.

He says advice is carried out by highly qualified independent financial advisers, authorised and regulated by the FSA.

Once the client has issued instructions, thepensionspecialist.com will carry out all the necessary transactions. Introducers have no responsibility or liability for the advice given.

Baillie says: “For most clients, their pension is their second largest investment after their house and it is vital that their advisers are able to ensure that their clients are getting the best advice possible.

“And it’s no good relying on the client to decide when to take action. In my experience less than 10 per cent have an adequate understanding of their pension arrangements. That’s where www.thepensionspecialist.com comes in.

“Introducers who want the very best advice for their clients can access us via the website, safe in the knowledge that their client is being advised by qualified pension specialists.”

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