Transfer Analysis Tools to the Adviser market

Selectapension, the Pension Software Company offering Transfer Analysis Tools to the Adviser market, undertook a recent exercise to evaluate exactly how much new transfer business had been analysed through their systems in the last three years. Astonishingly the figure was in excess £370 million. On an average commission level alone, this translates into £11,100,000 potential earnings (assuming a flat 3%) plus on top of course trail commission.

Given the current climate, and a possible reluctance for investing in stocks and shares, this proves that there is a huge opportunity for Advisers to revisit client's pension provision and assess whether they would be better off moving existing plans to a more suitable arrangement - maybe a SIPP or a more flexible alternative. With Selectapension you can consolidate all existing clients plans in the one analysis tool as well as looking at them individually within the one report. 76% of the new Transfer monies originate from Money Purchase arrangements.

Since December 2006 Selectapension have seen a 320% increase in new business being analysed, which suggests a great deal of activity. However there must be £millions still sitting in old style pension pots that would benefit from an analysis. To our mind there is a massive untapped market waiting to be activated.

 

For further information on selectapension please click here.