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.

PENSION TRANSFER GOLD STANDARD

The nine principles

  1. Helping clients understand when advice is appropriate
  2. Ensuring advice given supports the clients overall wellbeing in the context of their stated objectives
  3. Ensuring client understanding and acceptance of all charges
  4. Ensuring the most appropriate and updated technical skills are applied
  5. Transparent management of Conflicts of Interest
  6. Helping clients understanding the cost of transferring benefits
  7. Avoiding unregulated investments and introducers
  8. Transparency in advice processes and outcomes
  9. 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.

Downloads

Here you will find some useful information when making your decision about transferring your pension:

1. Pension Transfer Gold Standard Consumer Guide

2. Alternatives to Early Pension release

3. Defined Benefit & Safeguarded Benefits Pension Schemes – an explanation

All downloadable documents below are provided in PDF format and require a PDF viewer such as Adobe Acrobat to open them.

Video Guide

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.

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Testimonials

I found your staff very helpful and professional at all times. The advisor concerned did everything in his power to speed up the process as I had wanted to use the funds to attend my son’s wedding (abroad). The deadline was met and I was able to achieve my goal. The advisor went out of his way to ensure I was fully briefed and had considered all options before making my decision, thank you again.

Ms NS , Swindon

….what can I say. This company has been a breath of fresh air. I fully recommend any one considering any form of financial planning to contact Grove Pension Release. In plain English, those people are “NOT” cowboys. Thank you for all your help.

Mr EG, Bedford

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!

Mr RM, Swindon

I found Grove Financial Services to be an efficient and helpful company who I believe will do the best for their clients.

Mr CN, Slough

Definitely I would recommend Grove Pension Release to anyone as they give personal and friendly help to people who need help, where other companies don’t.

Mr MG, Stockport

I cannot praise your company enough. From the initial enquiry form to completion the whole procedure was absolutely first rate. Your staff are a complete credit to your company and it is impossible for me to find anything further to add. Superb!!

Mr RM, Ashendon

Pensions are an incredibly difficult subject to grasp but the team at Grove Pension Solutions went out of their way to explain, in plain English, the pro’s and con’s with regards to the pensions even if it meant that they wouldn’t get as much business. They really did put the client first which is a refreshing change to the financial culture of today. I was very happy with the service and satisfied that my pensions are in safe hands.

Ms D M, Nottingham

Very helpful & informative staff who understood my situation & why I had to release funds. I was informed that it could be a bad decision to proceed & was put under pressure not to, which doesn’t make sense as Grove wouldn’t make any money.

Mr PB, Chelmsford

I found your service to be very professional. The people I had contact with were very patient and understanding.

Mr DW, Bradford

GROVE SUPPORTED CHARITIES

Grove actively support the following charities and institutions

Livability
Libra
Bromley Mencap
Aquaid