News

Whilst we have generally seen very modest increases in average CETVs recently (see Grove Pension Solutions ‘real world’ CETV index below) we have seen some schemes where CETV’s have increased more significantly.

Many pension schemes now require members to complete a MoneyHelper ‘scams’ call before they will release a transfer payment. During this call, clients must answer a series of questions correctly – one of which is who provided them with pension transfer advice.

Of all the life stages where financial advice is vital for your clients, from purchasing a first property, balancing family costs with long-term savings goals, retirement and beyond, ‘end of life’ advice is probably the least talked about – but also one of the most important.

Recently, a number of referring IFAs have asked us to clarify the rules surrounding initial adviser charges, particularly with regard to ‘introducer’ fees.

In our previous Newsletter, we noted a fourth consecutive month of increases to average CETVs based on the Grove Pensions Solutions (GPS) CETV Index. This was despite the Bank of England base rate remaining at 5.25% since August 2023. So far, despite interest rates remaining stable and no decreases on the horizon, we have seen a slight reversal in this with average CETVs dropping over early 2024.