Pension consolidation advice

Adviser support
Advice

The average person has six jobs throughout their lifetime, acquiring several defined contribution pensions on the way. This module enables an adviser to combine a client’s pensions and implement an investment strategy.

Who does this help?

By enabling the adviser to bring multiple pension pots together, Turo empowers advisers to help clients review and compare their pension benefits. It is suited to both independent and restricted advice firms.

It supports the adviser in the review and restructuring of a client’s defined contribution pension portfolio and implementation of a revised investment strategy.

This module is designed to bring together two or more schemes using a set of advice rules that identify the most suitable scheme for the individual. The transfer parameters can be configured to the tenant's requirements.

Client objectives

  • Review pension benefits - Weighing up the benefits that the client would risk losing if the pension is transferred.
  • Review pension features - Exploring the features the client would need to meet their current objectives.
  • Pension risk review - Helping the adviser look at the risks associated with their current pension compared to the risks that they should be taking depending on their risk profile.
  • Full charge assessment - Review of plan costs as well as transfer penalties.
  • Attitude to risk assessment - To inform fund allocation recommendation.

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Outcomes

Pension transfer recommendation - A decision on whether to transfer or not and which pension to consolidate to.

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Current vs recommended asset allocation - Side by side comparison for each pension, mapping customer's desired attitude to risk and capacity for loss to ensure all pensions are aligned to their profile.

Partial pension transfer option

Configuration

  • Custom factors
  • Custom asset classes
  • Integration with fund information, surfaced using reference number
  • Integration with platforms such as Morningstar for fund details and asset allocation

Key features

Consolidation Advice demo
Fact find - Consolidation
Alerts
Features and benefits
Asset allocation
Risk and performance
Projections
Factors summary
Solution generator

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Registered Address: Wizards House, 8 Athena Court, Tachbrook Park, Leamington Spa, CV34 6RT.
Registered in England & Wales, No. 07014133. The information contained within this site is intended for UK consumers only and is subject to the UK regulatory regime.

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