George Square Financial Management is pleased to announce that we have adopted the pension transfer Gold Standard, a mark of quality, trust and expertise in pension transfer advice.
The Gold Standard, launched by the Personal Finance Society (PFS), is a voluntary code of good practice for defined benefit pension transfer advice. It is based around a set of nine key principles. Here, we outline what these principles are and why the firm has decided to adopt the code.
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. It gives consumers confidence that they are dealing with a firm that goes beyond minimum requirements when giving financial advice. Firms who adopt and promote this standard adhere to a set of nine key principles.
What are the nine principles of the Gold Standard?
- Helping clients understand when advice is appropriate
- Ensuring advice given supports the client’s overall wellbeing in the context of their stated objectives
- Ensuring client understanding and acceptance of all charges
- Making sure 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 processes and outcomes
- Promoting the Consumer Guide to the Gold Standard
For a detailed outline of each of these principles, read the complete consumer guide here.
Why did we adopt the Gold Standard?
At George Square Financial Management, we are committed to providing ethical, as well as professional advice in all of the areas we cover, including the specialist area of pension transfers.
George Goward, Managing Director, explains
“We are thrilled that our application for the standard has been accepted. At George Square, we understand that transferring pension benefits is a complex issue, and our team has always endeavoured to give transparent and honest advice on the subject. Opting into the pension transfer Gold Standard was an easy decision for us to make, as the firm is already strongly aligned with the nine principles outlined.
“We hope that adopting the Gold Standard reinforces our commitment to providing high quality financial advice that you can trust and instills confidence that we always offer solutions that are in our clients’ best interest.”
If you are concerned about the future of your pension and in a dilemma about whether a pension transfer is an option for you, our pension transfer specialists can help. Contact us now for a free consultation on 0115 947 5545, or send us an enquiry here.
For further information on the pension transfer Gold Standard, visit the PFS website here.