PENSION TRANSFER GOLD STANDARD
Grove Pension Solutions has adopted the Personal Finance Society’s Pension Transfer Gold Standard initiative.
What is the Pension Transfer Gold Standard?
The Gold Standard is a voluntary code of good practice for Safeguarded and Defined Benefit Pension Transfer advice, based around a set of principles. Financial advice firms can adopt and promote this standard by adhering to these principles, so consumers can be more confident they are dealing with a firm that is going beyond minimum requirements when giving financial advice and a personal recommendation as to whether to transfer their pension.
The nine principles
- Helping clients understand when advice is appropriate
- Ensuring advice given supports the clients overall wellbeing in the context of their stated objectives
- Ensuring client understanding and acceptance of all charges
- Ensuring the most appropriate and updated technical skills are applied
- Transparent management of Conflicts of Interest
- Helping clients understanding the cost of transferring benefits
- Avoiding unregulated investments and introducers
- Transparency in advice processes and outcomes
- Promoting the Consumer Guide to the Pension Transfer Gold Standard
Why has The Pension Transfer Gold Standard been created?The Gold Standard is primarily about empowering consumers and setting clear expectations of what to expect from financial advice. The success of this initiative will ultimately be measured against the practical extent to which it helps consumers understand what they should expect from good quality advice, how to recognise it and how to access it. In recent years the increased complexity of the pension landscape has continued to present challenges to financial advisers and consumers alike. Whilst many consumers have been positively affected by the introduction of pension freedoms, it has also resulted in unintended and negative consequences, particularly in respect of defined benefit pensions.
PENSION TRANSFER GOLD STANDARD RESOURCES
As part of our responsibility for being apart of The Transfer Gold Standard initiative, we give clients better understand of good advice, so they can be confident they are dealing with a firm that is going beyond minimum requirements when giving financial advice.
Here you will find some useful information when making your decision about transferring your pension:
All downloadable documents below are provided in PDF format and require a PDF viewer such as Adobe Acrobat to open them.
Independent video guide on the risks of Defined Benefit Pension Transfer.
PENSION TRANSFER GOLD STANDARD CONFIRMATION
As part of The Transfer Gold Standard initiative we need clients to confirm they have read the three guides and watched the educational video. Please fill in the form to confirm.
I did not think such a good service existed but it does. Grove customer service really does look after the customer.
When I made my initial enquiry via the Grove Website I received a response within 30 minutes. I realised straightaway that I was dealing with a highly professional operation. From beginning to end my case was handled with utmost speed and courtesy. I would highly recommend your services to anyone thinking of releasing their pension.
The whole experience was comprehensive and informative. I was never put under pressure, and the whole procedure was conducted professional, with feedback. Everything that I was told would be done was done in the time frame that I was advised of.
Grove Pension Release provided a very proficient service regarding my pensions review and pension release. My future pension needs have been fully reviewed and look forward to your support and working together in future years.
Thoroughly recommended, nothing to much trouble, always there to give advice, always dealt with the same person at all times. Very glad that I used this company.
I looked around the internet for some time, all I looked at was very confusing to me. I then found Grove Financial and found it very easy to read and take in. I sent an email with a question to see the response. I had a perfect response in plain english. I was very happy to carry on with the excellent personal service.
Very satisfied from start to finish with the quick & professional service.
A very clear, understandable and efficient service. All staff were friendly and knowledgeable.
You were the only company to explain it (advice) to me in a way I could understand … I contacted several IFA’s and they were all very unhelpful. … I am delighted I chose Grove, very professional, polite company. Thanks so much!
GROVE SUPPORTED CHARITIES
Grove actively support the following charities and institutions