Defined Benefit Paraplanning

Defined Benefit Paraplanning

It doesn’t seem that two years have passed since the Pension Freedoms Reforms came into effect and it is more than creditable to suggest that the opportunities this has created for many of you as financial advisers to collaborate and recommend better solutions for your clients’ retirement needs has never been so diversified.

This area of advice has become a massive cornerstone of many advisers’ business and this is set to continue to grow rapidly over the next twelve months, with a significant shortfall in appropriately qualified advisers and the sheer volume of deferred Defined Benefit pensions.

Those of you that are in the fortunate position to have the valuable appropriate qualification, you will already know that the Defined Benefits transfer arena has become an extremely profitable area of business for you. Cash Equivalent Transfer Values are normally substantially higher than Defined Contribution Pensions and initial fees are generally much more generous due the complex nature of the business. This, compounded by the improvement in funds under management, has seen our advisers profits increase significantly over the previous two years.

For those of you sitting the appropriate exams, this has most likely been spurred on by the potential profit potentials you have seen or heard about as well as the ability to providing your clients with a full holistic range of advice.

Over the previous 12 months, Defined Benefits transfer advice has increased nationally 300-fold, however the process from initial meeting to compliance approval is often seen as a barrier for many to enter this area of complex financial advice.

Obtaining compliance approval by preparing a suitability letter that will stand up to the test of rigorous compliance checks is extremely complicated and time consuming.

Since Pensions Freedom came into legislation, Svensoni has successfully grown its Defined Benefit Paraplanning proposition into a reliable and valuable service, where you can rely on us to produce a robust, transparent and compliant suitability report, meaning that you can spend more time in front of prospective and current clients and enjoying the financial rewards that naturally compliment complex advice.

Our unrivalled success in this area has led us to become a highly reputable outlet to any adviser looking to increase their profits and provide the necessary advice that meets their clients’ needs.
Share by: