Whether you’ve committed to yearly, 6-monthly, quarterly or whatever frequency of review, it is vitally important that you can demonstrate an audit trail of meeting the service levels agreed with the customer.
There are growing concerns in the industry that some advisers are not delivering the ongoing service as agreed or are providing a bare minimum service for disproportionate fees.
It is vitally important that you can demonstrate adequate servicing in accordance with the service standards agreed. Integral to this requirement is a good quality and comprehensive Review Report.
ATEB suitability incorporates review capabilities and, if you have not already done so, we would encourage you to investigate and develop review reports using the system.
Pension Transfer charging
Alistair MacDougall Compliance abridged, FCA, P1, Pension, Pension Transfer, PI, transfer
Policy Statement PS 20-06 stated that a firm providing pension transfer advice “… may also not charge less than it would charge for investment advice of the same value”. That seems clear enough, but the rule that gives effect to this statement is subtly different. COBS 19.1B.7 states: “A firm should not charge less […]