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Video: IFAs divided on DB transfer ‘crisis’ debate

At the New Model Adviser® conference and awards in London last month we caught up with four advisers on the DB transfer market and asked if we are seeing a crisis at the minute.

Opinions ranged from Darren Lloyd Thomas, director of Thomas and Thomas Finance, who felt a crisis has been rumbling since the announcement of pension freedoms.

But others were more sanguine about the situation. Tony Larkins,  managing director of Beacon Wealth Management, felt it all depends on the quality of the advisers involved in the process.

And other IFAs we spoke to talked of the benefits clients can enjoy because of transfers such as flexibility and inheritance for their children.

This divided opinion was also reflected in a poll of advisers at the conference which found a small majority opposed a ban on DB transfer contingent charging.

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