View more on these topics

Simplybiz adds new partner for DB transfers

Simplybiz says adding another partner will gives its members more choice and spread the workload among providers

Business-General-Handshake-Hire-Appointment-700x450.jpgSimplybiz Group has added another defined benefit pension transfer advice partner, adding to the existing agreements it has with the temporarily suspended Selectapension service and Creative Wealth Management.

Simplybiz has confirmed it has partnered with Pensionhelp after also agreeing a deal with Creative Wealth in July.

Money Marketing revealed last month that Selectapension was suspending its DB transfer service, Selectapension Bureau Services, following an FCA audit of its outsourced advice provider, CFPML.

Selectapension suspends DB transfer service after FCA audit

Simplybiz chief executive Matt Timmins tells Money Marketing Pensionhelp has been brought in to offer choice to Simplybiz members.

He says: “[DB transfers] is an area of growth at the moment and it is prudent for us to look at a number of different solutions throughout the market and to choose one that has a different charging mechanism and also to spread the workload among different providers so we don’t find ourselves in a similar situation again where one organisation is receiving the bulk of the transfers and therefore struggling with the extra demand that is coming with the Government changes.”

Timmins says the agreements with Pensionhelp and Creative Wealth are both long-term partnerships.

He adds: “They are both happy to work with our membership and their clients over the long-term and we fully expect Selectapension to come back in and join those two as an offering for our members in the future.”

Recommended

2

Pensions regulator launches prosecution against BHS man Chappell

The Pensions Regulator’s investigation into BHS has been reignited as it announces it intends to prosecute the majority shareholder of the company that purchased the retail giant. TPR is prosecuting Retail Acquisitions Ltd director Dominic Chappell for failing to turn over information and documents while it was investigating the sale of BHS and the treatment […]

teach
3

New pension transfer qualification attracts 500 applications in first week

A new pension transfer qualification has seen 500 sign-ups in its first week of its launch. The Chartered Insurance Institute has officially kicked off enrolment into its Level 4 Certificate (AF7) in pension transfers advice, which tacks a new Level 6 pension transfers unit onto three existing Level 4 exams covering pensions and retirement planning, […]

House-Paper-Chain-480
2

FOS pension transfer and Sipp complaints rise

The number of complaints to the Financial Ombudsman Service about Sipps and pension transfers continues to increase, latest data shows. Between April and June this year, FOS received another 678 Sipp enquiries, an increase of more than 50 per cent from the 427 reported over the same period in 2016. Half of the cases that […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment