Understanding, managing and mitigating the costs and risks associated with poor-quality defined pension transfer advice.
Benefits of our approach
Unique mix of regulatory and actuarial expertise
Specialists in suitability assessment, redress and more
Experience working with key industry bodies
Deep market insight and knowledge
10+ years advising in this space
Making sense of DB pension transfer advice
The costs and risks associated with poor quality defined benefit pension transfer advice can be significant for financial advisory firms, consumers and the wider pensions industry. We help firms, regulatory bodies and consumers make sense of the complexities relating to defined benefit pension transfer advice.
Our clients benefit from our experience and specialisms in suitability assessment, consumer engagement, redress and rectification. Armed with this knowledge, they can understand where and how to address regulatory issues.
Mitigating risk across the board
Past Business Reviews
• Conducting end-to-end past business reviews on historic DB pension transfers.
• Assisting with Population Identification, Suitability Review, Customer Contact and Redress.
Redress Centre of Excellence
• Supporting firms with redress calculations relating to pensions – both individual complaints and larger scale exercises.
• Delivering redress calculations that comply with the FCA rules introduced from 1 April 2023.
• Assessing the risks from past books of DB pension transfer advice that are provided by the target firm in a transaction.
• Advising on pricing implications and risk mitigation approaches.
Regulatory Conduct Support
• Reviewing the current processes within advisory firms, for ongoing DB pension transfer advice.
• Reviewing your processes, policies and procedures against FCA rules and industry best practice.
• Helping firms identify potential areas of risk and improvement.
Helping our clients
Our team have a proven track record, forged over years of working closely with the FCA and other regulatory and statutory bodies in this space.
As a result, we provide our clients with a deep understanding of the pensions market and regulatory environment. This is combined with market-leading implementation and delivery expertise, ensuring a complete and end-to-end service.
More recently, we supported the FCA in reviewing the DB pension transfer redress methodology which came into effect from 1 April 2023. We now pass on this unique insight, and understanding of the redress calculation process, to our clients.