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Pension and platform transfer research: the lang cat needs YOU!

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It’s a funny old industry we operate in. You’re sat at your desk; eating lunch and listening to the budget speech; mainly to see how much wine is going up by; and then! well, we were all there.

There’s been a lot of discussion about the impact of Budget 2014 on various aspects of the industry. One positive impact is investors being able to more clearly see pension savings as ‘their’ money; about which they get to make decisions from a much broader range of options. This will drive engagement (a notoriously elusive pot of gold at the end of the financial services rainbow) and contributions.

Retirement savings on platform are also looking like a key beneficiary of the Budget 2014 changes with AUM growth predicted across the advised and D2C markets.

All of which underpins the need ‘if any underpinning were needed’  to ensure that any pension savings products or wrappers you’re using (say, a SIPP), or the platforms on which they sit, are best placed to meet client needs.

So, in an outbreak of serendipity, the lang cat has recently been asked to carry out some research into pension switching (SIPPs, to be specific) and platform re-registration.

  • What exactly is involved from the adviser side in switching a SIPP and in-specie re-registration of platform assets?
  • What does that mean in terms of effort? And cost?
  • Is there a risk of SIPPs being left in-situ when they’d be better moving due to the cost of the pension switching review process?
  • How much time does automation really save?

We put our heads together and came up with a questionnaire (almost like a proper consultancy!) the link to which is RIGHT HERE. You can see where this is headed, can’t you?

We want to harness the power of the experience and opinion of advisers, paraplanners and other fine industry professionals who deal with the nuts and bolts of pension transfers and platform re-registration day in and day out. You can have your say using this CONVENIENTLY PLACED LINK.

Just in case you’re not quite sold, here are a couple of details which may help:

  • It’s anonymous – you are not a name to us, you are not even a number so no holds barred
  • It’s quick – ten minutes max: grab a coffee and have a go
  • It’s for charity – well not really. But we are making a donation to the Personal Finance Education Group (PFEG) for every questionnaire completed
  • You-ll see the results – while this is for a lang cat client, we will be talking about the results in IFAOnline. The more responses we get, the more robust those results will be. Everyone wins

Go on, you know you want to.

HERE’S THE LINK AGAIN. GO GO GO.

Posted in: #pensions   #Platforms   #Uncategorized  

About Linda Plant

Market insight and research specialist with a grounding in front line customer service and adviser support. Insurmountable amounts of source material in, engaging and intelligent reports out. Works tirelessly to buy bonios for her beloved Labrador, Flick.