SimplyBiz has added Broadgate Financial Management to its defined benefit transfer bureau panel.
Broadgate is the fifth panel member and joins Tuto, Grove Pension Solutions, Pensionhelp and Creative Wealth Management.
SimplyBiz Group compliance director Gary Kershaw says: “Like most of our DB partners, Broadgate itself is an advice firm and therefore understands perfectly the relationship of trust between client and adviser and the absolute importance of delivering the right advice for that individual, based on their specific circumstances.”
SimplyBiz also still has a relationship with Selectapension.
In July last year, Selectapension suspended its DB pension transfer business after an FCA audit of its outsourced advice firm CFPML.
After the suspension of service was revealed, Kershaw said: “Selectapension has done this just to catch up on workloads. We have got no reason to not have a relationship with them. It’s got nothing to do with the request from the FCA whatsoever.”