DB transfer firms cut ties with SimplyBiz panel
By
Sonia Rach
8
Two advice firms have pulled out of SimplyBiz’s defined benefit transfer referral panel,
Money Marketing has learned.
Creative Wealth Management, which was the first partner to join the panel in 2017, decided to leave the DB transfer introducer market and SimplyBiz last month.
The firm will continue to operate in the DB pension transfer market with its own clients.
Eadon told
Money Marketing that like many other firms, the increase in professional indemnity costs meant it was no longer viable for the firm to remain in the market.
The SimplyBiz DB transfer referral bureau panel offers an outsourcing solution to members who are either unable to, or choose not to, operate in the DB transfer market, but still want to meet the needs of their clients in the area.