Pension consolidation summary

There are several reasons why it may be beneficial for a client to have a professional review of their current pension arrangements and to assess whether they may be better off with another product. These include investment potential, cost and flexibility.

Contents

This module can provide you with just the planning tools or also help you with the reporting and transaction of the chosen products.

To determine the suitability of the chosen pension, we use the information from:

• client data (personal details)
• client’s attitude to risk (risk profile questionnaire)
• information on existing pension arrangements (including features and projection data)
• information on the proposed pension

As a result, you will receive a comprehensive analysis and report which takes into account:

• summary of client’s existing arrangements (such as valuations, funds, charges, projection data)
• client’s risk profile (on a scale of 1-10)
• proposed asset allocation to match risk profile
• features comparison using a Red-Amber-Green (RAG) status checklist for the existing and proposed pensions
• RIY and hurdle rate RAG status checklist for the existing and proposed pensions
• downloadable client report summarising the above, using graphics (which can be used as part of the suitability letter)

Benefits

In 2011, our standard lifetime allowance tool, targeting income in retirement tool, tax-free cash calculator and tax-free cash tool to determine the impact of taking it early) were all star rated by F&TRC.

Advisory businesses

Our pension consolidation module allows financial advisers to conduct a robust and repeatable review of existing occupational defined contribution and personal pension contracts. This means the proposed personal pension can be benchmarked against the current plans, so advisers can identify any potential issues and validate their recommendations.

Our reports provide you with quality graphics, a risk profile and scenario planning results to ensure your client understands the importance of effective financial planning – giving you the opportunity to ensure they are well funded and protected.

Asset managers

We can help advisers deliver compliant pension consolidation advice that takes into account the end customer’s needs, existing pension assets and income.

Our reports provide quality graphics, a risk profile and scenario planning results to ensure the end customer understands the importance of effective planning. As risk rated funds grow in popularity, perhaps you’d like to make sure that yours are included when an adviser chooses funds aligned to a risk category?

Providers & Platforms

We can help you deliver compliant pension consolidation tools and advice that takes into account the client’s needs, existing assets and income.

Our reports provide you and your advisers with quality graphics, a risk profile and scenario planning results to ensure the end customer understands the importance of effective planning – giving you the opportunity to ensure they are well funded and protected.

Please contact us, to find out how we can enrich your customer relationships.