Gresham Secure Pension Transfer Gold Status

Gresham Wealth Management has been awarded Pension Transfer Gold Status, a quality kite mark designed to assure consumers who are considering a transfer out of a final salary or defined benefit (DB) pension scheme.

Created by the Personal Finance Society with a range of representatives drawn from across the industry, including professional indemnity insurers, the Pension Transfer Gold Standard only applies to financial advice firms that have met the strict qualifying criteria.

The need for an industry quality standard arose following the introduction of rules which made it a legal requirement for individuals looking to transfer out of a defined benefit pension with benefits worth £30,000 or more to seek financial advice.

The Gold Standard has been developed to enhance a client’s experience of financial planning in this complex area, particularly following a number of cases that hit the headlines where individuals were set to lose out following ill-considered advice.

The idea behind the Gold Standard is to assure members of the general public who are considering transferring out of a Defined Benefit pension scheme that they are receiving the best possible advice, service and support.

The Gold Standard requires firms to adhere to a set of nine principles. Furthermore, all advice must either be given or signed off by an individual who has the relevant qualifications.

Morven Millar, Chartered Financial Adviser and Director at Gresham said:

“The decision whether or not to transfer out of a defined benefit pension is not always straightforward. Pension contracts are notoriously complex and although the perks of a modern pension contract with the flexibilities of pension freedoms may sound attractive, there are usually several factors to consider, often reaching far beyond the matter of cost. For example, considerations should include quality of health, the availability of other means of income in retirement, the value of other assets and the need for flexibility in drawdown should all play their part in the decision.

“By working with a firm that has voluntarily committed to the Pension Transfer Gold Advice, you can be confident that you will receive the best possible advice, service and support when considering transferring out of a Defined Benefit pension scheme.”

Find out more about the Pension Transfer Gold Standard by reading their consumer guide here.

If you wish to know more about The Pension Transfer Gold Standard or are seeking advice regarding transferring out of a Defined Benefit pension scheme, please contact us.

 

 

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    On behalf of Walk & Talk Group, I would like to thank you for the most informative, enjoyable and appropriate presentation you gave. Members found the session of great value and very useful.
    With great thanks for all your reassuring attention over the last year. It means more to me than I can express in a few words.
    Whilst my client’s situation is obviously very complicated, you made it very straight forward – quite an art!
    Thanks again for your advice, you have given me the kick I needed to take control and I’m very grateful for that.
    A very personalised service… All advice is tailored to my needs with great consideration to issues I may not have thought of myself. I feel confident about my future finances.
    Before I chose Gresham I spoke to a number of IFA’s but none of them gave me the same confidence I had when I spoke to Morven. Everything, both written and spoken, is explained in an easy to understand way. All my pensions have been dealt with extremely efficiently and I am very happy with the service I have received from everyone at Gresham.
    It’s lovely for us to have nice friendly advisors like Jonathan and Morven.
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    Thank you so much again for your time and brilliant advice.
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