Craig Stokes: Advisers have a 'third way' on DB transfer advice

Consider outsourcing

clock • 3 min read

Advice businesses facing the uncomfortable choice of biting the bullet and offering DB pension transfer advice or quitting the market have a third option, writes Craig Stokes - outsourcing to another adviser

The defined benefit (DB) transfer advice market is undoubtedly in a transitional phase. Which way it will go is hard to determine but there are a couple of certainties - those clients who wish to consider transferring their valuable DB pension need good-quality, specialist advice and they need fully to understand what they are giving up. While naturally wanting to meet the needs of their clients, many financial advisers have tried to introduce an in-house advice process for DB transfers. Some have done so successfully but others have struggled with the complexities involved in providing ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Inflation shocks driving another long uptick in annuity sales

Inflation shocks driving another long uptick in annuity sales

‘Customers should be careful that this is the right decision for them’

Hope Coumbe
clock 23 April 2024 • 1 min read
Advisers warn market volatility will threaten retirement plans

Advisers warn market volatility will threaten retirement plans

More than half expect clients to postpone or change plans

Isabel Baxter
clock 26 March 2024 • 2 min read
Perfect timing: How to advise clients on the right time to retire

Perfect timing: How to advise clients on the right time to retire

Striking a balance between health, wealth and personality

Richard Hulbert
clock 05 February 2024 • 4 min read