IFA launches pension transfer service for rival advisers' clients

The firm will take on individual advised clients via its Final Salary Pension Review Service, as well as partner with IFAs who lack the necessary qualifications to offer in-house transfer advice to their clients. Under new rules professional advice is mandatory for pension transfers out of defined benefit (DB) schemes worth more than £30,000. The government introduced the measure as part of its sweeping pension reforms taking effect last April, which allowed all savers in direct contribution (DC) schemes unfettered access to their cash from age 55. Because the same freedoms were no...