Defined benefit transfer advice

Adviser support
Advice

Supporting your advisers throughout the advice process, considering the financial and non-financial aspects of retaining or transferring out of a defined benefit scheme.

Who does this help?

Defined benefit transfer is one of the most complex areas of financial advice. This module is enables the adviser to automate parts of the advice process, giving them a cost-effective and compliant solution to delivering advice to their clients.

Turo uses artificial intelligence technology to learn from defined benefit advice cases, providing consistent and repeatable recommendations which will take into account your company advice policy.

Client objectives

  • Defined benefit pension transfer: Providing both pre and at retirement advice on whether to transfer out of a defined benefit scheme.
  • Abridged advice: Brief review of circumstances to determine whether full defined benefit transfer advice is worth pursuing or whether it’s likely for the client to remain in their current DB scheme.

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Outcomes

The adviser gets a solution summary on screen with all product recommendations and supporting data which are used to produce a suitability letter for the client.

Remain in defined benefit scheme:
After reviewing all circumstances, retaining a defined benefit pension might be the best option for the client.

Transfer out of defined benefit scheme:
Get a cash lump sum to invest in a personal pension.

Key features

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