View more on these topics

Six hundred advice firms adopt PFS DB transfer standard

More than 600 firms have signed up to the Personal Finance Society’s new standard aimed to improve defined benefit transfers since its launch last month.

It consists of consumer guide for DB transfers that is meant to help consumers better understand what to expect from regulated financial advice.

The guide defines an adviser code based on nine principles underpinning good practice when giving pension transfer advice.

More than 200 advice firms signed up to the code a week after the launch.

Aon partner David Bunkle says: “We think that anything which drives adoption of best practice across the advice community and helps pension scheme members to access high quality advice is a good thing.

“It is good to see this initiative taking off and we expect our clients will be keen to note that IFAs have the Gold Standard.”

The PFS chief executive and pension advice taskforce chair Keith Richards adds: “The overwhelming response and support of the Gold Standard represents the professionalism of the majority who are passionate about their profession, but who also recognise that we need to be more united behind the best outcomes for the public, not just the clients who already trust us.”



Is now the time for a DB transfer turnaround?

Falling transfer flows, regulatory jitters and fears over insistent clients are reshaping the Sipp market, our survey reveals Sipp providers have tightened up their defined benefit transfer processes, a Money Marketing survey suggests, and are turning away some business as consumer appetite also cools. Data suggests that DB transfers have started to die down from […]

SimplyBiz expands DB transfer referral panel

SimplyBiz has added independent firm Onvestor to its defined benefit pension transfer referral panel. According to the firm, the panel offers solutions to advisers who do not operate in the defined benefits transfer market, however, are required to meet the needs of their clients. The panel is part of the firm’s ‘SimplyRefer’ proposition, which includes […]

Interactive Investor drops bid for Share Plc

Platform Interactive Investor has pulled out of takeover talks with Share Plc, formerly The Share Centre, just a week after news of the discussions was revealed. Share Plc confirmed last Friday that it has received a preliminary approach from Interactive Investor regarding a possible offer. However, this morning, Interactive Investor has announced that it is […]

Why is relationship management so important for advisers?

It’s easy to see technology as a threat, but it doesn’t have to be; professional advisers, unlike robo-advisers, can excel at the soft skills – valuing clients, respecting them, understanding their investment objectives and feelings. All of these are major contributors to building long-term trust and relationships. Watch the full video and also find out […]


News and expert analysis straight to your inbox

Sign up


There are 3 comments at the moment, we would love to hear your opinion too.

  1. How do you know they comply?

  2. I’m more curious as to where they are going to get their PI cover from?

  3. David Bashforth 23rd May 2019 at 11:04 pm

    I would argue that the reason uptake has been strong has more to do with the fact that not to have this shiny new label would put a firm in this market at a commercial disadvantage, because there is no cost attached, and because it is available to all and not restricted to Chartered members

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm