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Threesixty extends DB transfer support offerings ahead of SMCR

Compliance provider Threesixty will launch a range of support services to assist advisers carrying out defined benefit transfers ahead of the December implementation of the Senior Managers and Certificate Regime.

This includes a review tool for IFAs DB businesses, support on outsourcing to discretionary fund managers and training modules to assist firms in specific requirements for the SMCR.

Threesixty compliance director Gary Crossley says advisers are looking for increasing guidance around DB transfers given their market high and subsequent troubles since 2017.

DB transfers remain closely monitored by regulators and have become increasingly expensive for advisers to afford within their professional indemnity insurance coverage following the British Steel Pension Scheme collapse.

Crossley says: “We want advisers to know if that’s what their business needs we can focus in on a single area, or mix and match that service with others from the menu.

“When advising clients in higher risk areas, products or services, it’s important that you can do so with the peace of mind and comfort that the processes you have deliver appropriate client outcomes when they are followed.”

Are small advisers ready for the Senior Managers and Certification Regime?

Firms can use the service for an impartial review of offerings including a review on the suitability of their centralised investment proposition.

The services can be used by both directly authorised and discretionary firms.

Crossley says: “It’s about keeping emotion out of decision making and helping firms understand the changes needed as well as assisting to implement those changes.”

SMRC will extend to all authorised firms on 9 December this year.



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