We Are Proud to Comply With The CII’s ‘Pension Transfers Gold Standard’
The Chartered Insurance Institute (CII) has recently introduced a new Pension Transfer Gold Standard, to help ensure the highest-quality advice for clients considering whether to transfer out of a final salary pension scheme.
Given our similar commitment to excellence, Kennedy Black Wealth Management is very proud to be able to comply with this new standard.
Final salary pension transfers have become increasingly popular in recent years, as a result of new ‘pension freedoms’ (the ability to access a pension in one go) and rising transfer values (mainly because of falling interest rates).
However, this is a highly sensitive area where transferring out may not be in a member’s best interests, yet many members seem keen to do so and there have been a number of examples where unscrupulous advisers are happy to assist, for a fee of course.
The Financial Conduct Authority (FCA) has tried to stamp out some of the poorer practices, however poor advice does still continue. We are therefore very pleased that our professional body, the Chartered Insurance Institute (CII) has taken a more pro-active approach and has introduced a new ‘Pension Transfers Gold Standard’ to improve the standard of advice in this area in the pursuit of better client outcomes.
Our clients can therefore be even more confident that they are receiving the very best advice on this complicated topic.
More information is available at the CII website: