Pension Transfer Gold Standard for The RU Group

Pension Transfer Gold Standard RU Group

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Last month we received the excellent news that The RU Group’s application to join the Personal Finance Society’s Pension Transfer Gold Standard was successful.

The Gold Standard is a voluntary code of good practice for safeguarded and defined benefit pension transfer advice, based around a set of nine key principles. It has been set up to help consumers better understand what good advice looks like and where they can find it.

Although we are already thoroughly committed to operating in a professional manner with our clients’ best interests at the heart of everything we do, our successful application to The Gold Standard gives you, our clients, the confidence to know you are being advised by a firm that goes beyond the minimum requirements when giving financial advice.

The nine principles of the Pension Transfer Gold Standard are:

  1. Helping clients understand when advice is appropriate.
  2. Ensuring advice given supports the client’s overall wellbeing in the context of their stated objectives.
  3. Ensuring client understanding and acceptance of all charges.
  4. Ensuring the most appropriate and updated technical skills are applied.
  5. Transparent management of conflicts of interest.
  6. Helping clients in understanding the cost of transferring benefits.
  7. Avoiding unregulated investments and introducers*
  8. Transparency in advice processes and outcomes.
  9. Promoting the Consumer Guide to the Pension Transfer Gold Standard.

By embedding all nine principles of The Gold Standard within The RU Group, we are confident that our clients will be better prepared for discussions about what to do with their safeguarded benefits and this will lead to a stronger, more informed, trust-based relationship between us and you.

*Principle 7 – reference to ‘non-mainstream pooled investments and unregulated collective investment products’ within the Practitioner Guide does not apply to cash, or near cash investments held as part of a normal asset allocation. Reference to ‘unregulated introducers’ relates only to those that have a commercial interest or involvement with unregulated investments, thereby avoiding any undue influence in respect of the eventual investment strategy or fund used.

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