The Transfer Process2020-02-19T17:48:00+00:00

Our Process

Let’s chat

This call is all about why you are on this path, what are the reasons you decided to get the transfer value, what makes you think this is a good idea.  We take the time to explain the reasons the FCA say it’s often a bad thing to do, we will really question your motives so please be ready to give me some very good reasons why you think this is a good idea.  We will explore your reasons to transfer and we will come up with some alternatives to offer the same solutions or outcomes.

We will also explain our strategy in helping with this process, one big thing for us is where the money goes.  We cannot emphasise this enough, we are not in the business of putting you into a new pension and then waving good bye and good luck, we need to be confident that the money being invested is suitable for you, not only now but in the future.  We would review this work constantly and always be available on the phone or via email with at least a yearly meeting to discuss the progress and to make sure the objectives are being met, making any changes as necessary.



This is key to ensure the right outcomes are gained by all, contingency charging is a hot topic in the industry at the moment. This is where us, as advisors only get paid if we transfer the pensions, which is clearly a conflict of interest.  Therefore at the initial stage we charge a fee of £500 to cover an initial analysis of the numbers, this is not advice but a consultation to help you fully understand what you would be giving up if you did transfer.  This shows commitment from you as the client and allows us to get paid for doing the initial work.  The details of the report and the outcomes are explained below.

We analyse the report and take stock of the information already obtained via phone and email, if at this point we feel there is merit in continuing the process then this will be done.  We then move on to the full advice stage, we will need further information from you, which is outlined below in the advice process.  This will then mean we will do the full advice and recommendation.  The cost of this service is reflective of the amount concerned, we try to offer a fixed fee in most cases but we will try and adjust this based on the amount, if the transfer amount is a low figure.

Ongoing charges-we will inform you of the ongoing charges to manage the scheme, we will adjust this based on the amount involved so that if you have a large pot, you are not paying over the odds.

Our fees are very competitive within the market place and we feel we offer a solution which is cost effective, efficient and enables you to get the right results based on our many years of experience.

A common comment we get is, ‘So I will pay all the money and you tell me to stay in the plan so it’s been a complete waste of time and money’, firstly we are not here to tell you what to do, we are advisors who will work with you to get the best results.  If a transfer is not appropriate we can usually work that out early on, if we then go through the discussions and get a TVC report and stop at that stage then it’s on agreement with all parties, we try not to go on from that stage if the numbers really do not stack up.  We cannot stress enough that the advice is worth getting because it’s right for you personally, we haven’t had anyone who disagrees with the advice, the outcomes of the advice are right for you the client/member every time.  We are ultimately looking to get the best outcome for you everytime.  If the numbers and reasons to transfer are not right then we will know this very early on but ultimately we cannot guarantee that we are going to recommend to transfer or not.

  The Transfer Value Comparator Report (TVC report)

This report crunches the numbers, it will show you the actual figure you will be getting at retirement from the scheme, based on the scheme details.  Often this figure is vastly different to what is quoted from the trustees and this is because they may not have given you an actual pension at retirement but a pension on leaving, these figures are often very different.

It will tell you the amount needed to buy a similar annuity on the open market, using prescribed annuity rates from the FCA.  It will also give you an idea of how long the fund will last in a drawdown plan, paying the same figures as what is quoted from your final salary scheme.  It will base this on medium returns of 5%.

Of course the TVC report can only measure the numbers and not your other reasons to transfer but it usually gives you a good idea of whether this is a good idea or not

  The Advice

We explore the other reasons for transfer and to get this information we will ask you to complete;

Cashflow questionnaire-this asks for all your financial income and outgoings, your assets and other pensions.  This enables us to provide you with a financial picture of your life and it allows us to model how a transfer will look in this model and likewise how staying in the scheme will look.

Questionnaire-this asks pertinent questions as to why a you feel a transfer is a good idea, it will also ask you what you would do if the markets dropped by a huge amount.  It will go into your attitude to risk and capacity for loss.  We will ask that you make considered answers and respond in your own words.

Investments-where the money goes is so important and we will discuss this at length to ensure that you are in a portfolio that matches your attitude to risk and is appropriate to you.