Standard Life has launched a duo of support materials onto its extranet site for UK financial advisers to guide intermediaries operating in the defined benefit (DB) and the defined contribution (DC) transfer space.
The life assurer has added a questionnaire onto its Adviserzone online support hub for advisers to use with clients to the gauge the latter’s level of understanding of the transfer process, and a support guide providing tips to help with the transfer process.
The company said the support materials were developed in response to adviser feedback, which showed they need help with filtering out clients who should not go through the full advice process, as well as help with setting client expectations and recording outcomes.
Alastair Black, head of financial planning propositions at Standard Life, said: “Pension freedoms have opened up flexibility for many, and transferring will be the right thing to do for some. The new suite of materials is in no way designed to replace the advice or compliance process – the adviser remains very much in charge. What they wanted from us was help in streamlining their process.”
In March, Standard Life launched a Chartered Insurance Institute-accredited CPD learning hub that offers a set of learning and development modules, which are designed to support advisers and their businesses in the retirement market.
The learning programme, Adviser Edge, is divided into modules designed for use by the business owners/decision-makers and business writers of an adviser business. Those undertaking the modules will be directed to the best route for them.
Dan Clayden, director at Devon-based Clayden Associates, said. “We are not authorised to do DB transfers. I took that the decision when I set up my practice because it is a high-risk area. I welcome any support providers can offer.”