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SimplyBiz adds fourth DB transfer partner to panel

Business-Corporate-Board-Room-Meeting-Hire-Hiring-700x450.jpgSimplyBiz has added a fourth partner to its defined benefit pension transfer referral panel.

Peterborough-based Tuto joins Grove Pension Solutions, Pensionhelp and Creative Wealth Management on the panel.

SimplyBiz compliance director Gary Kershaw says: “While talking to potential partners and then undergoing the due diligence process with Tuto, I felt comfortable that its approach to upholding regulatory requirements, working closely with advisers and thoroughly evaluating the needs and circumstances of each client were in-line with those of the group and our members.”

Kershaw says a quarter of the 3000 calls to SimplyBiz’s pension helpdesk relate to DB transfer queries.

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.”

In November last year, Money Marketing reported that Selectapension was continuing to provide transfer value analysis services but that its return to the defined benefit transfer space would be delayed due to an FCA restriction placed on CFPML.


DB transfer values remain steady over February

Defined benefit transfer values remained largely unchanged from January to February according to Xafinity’s latest data. Figures from the firm’s transfer value index shows transfer values have been stuck in the same pattern since mid-September 2017. This has been driven by gilt yields and inflation that were constant over the month as the index climbed […]


Which firms are winning the race on wealth management?

Traditional wealth managers have proved themselves to be scalable and profitable businesses despite the hype caused by robo-advice models, analysts say. Wealth managers have also been shown to be more robust than pure asset managers amid mounting pressure on fund performance and fees. While Hargreaves Lansdown and St James’s Place continue to make the headlines […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


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