SimplyBiz advises on 500 DB transfers in first year

30 Aug 2016

SimplyBiz has processed 500 defined benefit transfer requests since it launched its outsourcing service last year, the firm has announced.

Launched in 2015 in partnership with Selectapension, the service provides outsourced advice for financial adivsers who are unqualified or unwilling to advise clients on DB transfers.

The launch coincided with the introduction of pension freedoms in April 2015, an event that has seen a major rise in interest DB transfers. It also coincided with the Financial Conduct Authority’s CP15/7 consultation paper on the regulation of DB transfers.

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