Finding A Financial Adviser To Discuss A Pension Transfer

There is a growing interest in members of final salary pension schemes wanting to look at their options. Many suitably qualified financial advisers (including The Pension Review Service) do not charge for initial review meetings but how do you choose a Financial Adviser?

You should first ensure that any adviser you may wish to talk to is authorised and regulated by the Financial Conduct Authority (check here ). Please do not deal with anyone who is not authorised by the FCA as you are putting your pension fund at significant risk and may have no redress.

Next, you need to ensure the adviser has the relevant FCA permissions to discuss, advise and action final salary pension transfers. Using an adviser without permissions or an intermediary can cause delays (time you may not have!) and could ultimately increase fees should you decide to action a transfer.

Finally, you need to be sure any adviser you choose has experience of the final salary pension transfer process. Ideally, they should have experience of your particular pension scheme. Final salary pension transfers are complex and if you want to avoid delays (and potential mistakes) it is best to talk to those with the relevant experience.

Insistent Client Status

Make sure any Financial Adviser you talk to is fully focussed on achieving your objectives. If not, walk away and find another adviser. Be particularly wary of any adviser who may wish to classify you as an ‘insistent client’. It is possible there may be sound and valid reasons for this classification but it should at least make you re-evaluate if you are receiving the best advice.


It is important to be sure you don’t fall prey to SCAMS. As a minimum make sure whoever you are talking to is on the FCA register, be wary of any pushy sales tactics, anyone who tries to avoid explaining everything in full and those making promises that appear to be too good to be true.

It is important to invest in only conventional assets. Anyone who suggests they have an investment opportunity with guaranteed returns (especially unusually high returns) or claims only a small group of ‘those in the know’ are aware of a particular investment should be treated with extreme caution. Make sure the investment is a UK based investment and regulated by the FCA – offshore schemes give you very little protection.

Download our Free Guide – 9 steps to transferring your final salary pension here.


Related Posts

Final Salary Pension Transfer – A Summary

The information in this article does not constitute financial or other professional advice. You should not take action on the basis of this article without seeking regulated independent financial advice that addresses your specific circumstances.