The Defined Benefit Transfer Panel Debate
Session: 28 April 2021
Vince Smith-Hughes is joined by Gary Kershaw, Group Compliance Director at Simply Biz, Will King, Head of Business Development at Pension Works and Dan Kelly, Managing Director at Onyx Insurance Brokers for a debate around some of the key themes affecting the DB transfer market.
It will include thoughts on the FCA finalised guidance, how to make and take introductions compliantly, how abridged advice is being used, obtaining PI cover and more.
This session should help you gain a better understanding of:
- The impact of the finalised guidance on the DB market
- How the new rules have shaped the market six months on
- How to offer clients a proposition for DB advice
Presenters – Vince Smith-Hughes – Director of Specialist Business Support, Prudential
Gary Kershaw – Group Compliance Director, Simply Biz
Will King – Head of Business Development, Pension Works
Dan Kelly – Managing Director, Onyx Insurance Brokers
To claim your CPD certificate, test your knowledge with the questions below.
Write down your answers to each of the following questions and check your answers when you click through to claim your CPD certificate on the link below.
Test your knowledge
1. What is the reference of the finalised guidance paper?
2. What type of cashflow modelling assuming funds are transferred can be used for abridged advice?
a. Cashflow modelling cannot be used in abridged advice for anything other than the DB benefits against the clients expected expenditure
b. Only in line with APTA
c. Any model relevant to the client circumstances
d. Any model that takes account of when funds might run out
3. When can contingent charging continue to be used for a DB transfer?
a. Only when the clients requests it
b. When the client in in ill health and/or has financial hardship and cannot afford to pay for the advice
c. When the adviser explains it in writing
d. When the total annual charge is less than 1% p.a
4. How many additional hours of CPD must a pension transfer specialist now undertake?
a. 30 hours
b. 10 hours
c. 35 hours
d. 15 hours
To claim your CPD certificate, click here.