Later Life

SimplyBiz Group adds Aviva to DB transfer referral panel

Rozi Jones
5th January 2021
"We are delighted to be able to offer a DB advice service if customer and adviser find themselves in that position."

The SimplyBiz Group has appointed Aviva Financial Advice to its DB pension transfer referral bureau panel.

The bureau offers an outsourcing solution to advisers who are either unable to, or choose not to, operate in the defined benefits transfer market, but still want to meet the needs of their clients in this area.

Aviva Financial Advice launched an abridged DB advice service in November 2020, and SimplyBiz Member Firms will be able to access both this and the full advice proposition through the bureau.

SimplyBiz says it expects demand for support around the DB advice process to rise further throughout 2021 as a firms who don’t specialise in this market start to exit it altogether.

Gary Kershaw, compliance director of The SimplyBiz Group, commented: “Policy change and growing consumer interest in pension transfers during 2020 meant that we needed to increase the amount of regulatory support we were providing to our member firms in this key area. Expanding and strengthening the bureau panel is another layer of support, ensuring that we are helping firms who are unable to, or have chosen not to, provide advice on pension transfers themselves still deliver good outcomes to their clients.

“Aviva Financial Advice’s breadth of experience and dedication to exceptional customer service is renowned within the sector, and I was particularly impressed by the fact that each adviser in its DB team holds the PFS Gold Standard. I’m delighted to begin 2021 by welcoming Aviva to the pension transfer bureau, and am confident that members will find them a valuable new addition to an already strong panel.”

Mary Harper, MD of Aviva Financial Advice, added: “We are delighted to be part of The SimplyBiz Group’s DB pension transfer referral bureau panel, which is a great opportunity to work with more clients in offering our Gold Standard DB advice service.

“There are many reasons why some firms are no longer willing to offer advice on DB transfers, but, if a customer wishes to review the whole of their wealth and retirement strategy, it is an incomplete picture without considering what is the best choice for them if they have a DB pension as part of their retirement savings. We are delighted to be able to offer a DB advice service if customer and adviser find themselves in that position.

“Since we started offering DB advice in 2019, we have seen demand and business grow, and believe that this will only continue. We have recently launched our Abridged Advice service for DB as part of a growing suite of options to help bring appropriate advice solutions to people who might otherwise miss out.

“We are all agreed on the need for our industry to work towards closing the advice gap, to ensure best possible outcomes for customers. We hope that making more advice more widely available will be a part of that.”

Related articles
More from Later Life
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.