All clients must within two years of accessing benefits or retiring
- Transfer values must be equal to or over £400,000 o The client must also have £25,000+ in a combination of easily accessible cash or savings.
- Our minimum charge will be £10,000 (in line with our normal charging structure of 3% to £300k and 1% thereafter)
- We will charge £10,000 whether we advise the client to transfer or remain in the scheme
- Charges can only be taken from the pension if the client is advised to transfer
- All retirement plans must pass our cashflow analysis with money remaining at age 100
- Using our pre-determined growth rates and a stress test appropriate for the level of risk being taken
- A minimum income in retirement of £19,000 (net) for an individual and £25,000 (net) for a couple will be used unless the client expresses a need for a larger income
- We will advise clients who qualify for the contingent charging carve out for reasons of serious ill health and an inability to pay the non-contingent fee
- Clients must be UK residents
- We do not offer abridged advice
- We do not offer advice on estimated transfer values
- We will not advise clients looking to use the contingent charging carve out for reasons of financial difficulty
- We will not advise clients introduced by other firms
- We do not advise on opt outs from schemes
- We will not take on insistent clients
- Either those who are certain they want to transfer prior to advice being given or those who do not accept advice to remain in the scheme
Internal Rules
- 5-year liability declaration must be signed on shared cases.
- If an adviser decided to leave the business, any DB clients will be retained by us, unless liability for the advice is transferred away from Prosperity Wealth.
- Please engage a PTS prior to a CETV being requested, do not just request a CETV to “have a look”.
