Pension Transfer Gold Standard

The Pensions Advice Taskforce, a representative industry body of the Personal Finance Society has established a voluntary code of good conduct for safeguarded and Defined Benefit Pension Transfers Advice- the ‘Gold Standard’.

Here at FB Wealth Management Limited, we are proud to be holders of the Gold Standard. The Pension Transfer Gold Standard is there to help consumers recognise good practice, ethical and professional standards when seeking financial advice on pension transfers.

There are two high-level objectives set by the Pensions Advice Taskforce:

  • To raise Advice Standards
    Pension Transfer Gold Standard will be achieved by adherence to a set of principles underpinned by specific requirements for firms who adopt the Gold Standard.
  • Enhanced Consumer Protection
    To be achieved via firms adhering to the Gold Standard and its principles, openly and proactively identifying themselves as such and duly promoting the Consumer Guide to the Gold Standard.

In addition, we will also adhere to the following 9 principles:

  • Help clients understand when advice is appropriate
  • Ensuring advice given supports the clients overall wellbeing in the context of their stated objectives.
  • Ensuring client’s 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 process and outcomes.
  • Promoting the Consumer Guide to PTGS.

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