Posted on: 17-03-2020 in UK
Holborn Assets, one of the UK’s leading independent financial service providers, has received the Pensions Transfer Gold Standard award.
The award symbolises Holborn’s commitment to providing the highest standards of advice and service for Defined Benefit pension transfers.
The Pensions Transfer Gold Standard was introduced by the Personal Finance Society.
The industry-backed initiative aims to provide a robust standard that complies with rules set out by the Financial Conduct Authority (FCA).
Chris Wicks, Managing Director for Holborn UK, said: “We are delighted to be approved by the Personal Finance Society to participate in the Pension Transfer Gold Standard.
“This shows our commitment to following the highest possible professional standards of advice to clients requiring advice on their Defined Benefit pensions.”
Handling of pensions has changed drastically since the government introduced pension reforms.
Defined Benefit pension rules were a specific focus. It is now compulsory to seek independent financial advice before making a Defined Benefit pension transfer over the value of £30,000.
Since the reform, an increasing number of people have been seeking financial advice.
The Pensions Transfer Gold Standard acts as a seal of approval. It means those who are looking to transfer their pension can be confident in the company handling the transfer.
Building off of the core principles set out the FCA, the Gold Standard consists of a further nine principles which underpin its code of practice.
Companies display the Gold Standard badge to show they abide by the code of practice. The badge allows the public to identify companies which uphold the highest ethical and professional standards.
The Money Advice Service directory lists all companies awarded the Pensions Transfer Gold Standard.
For more information, you can read the Pension Transfer Gold Standard consumer guide here.
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