The pensions referral service comes with the added guarantee that it will not cross-sell to the broker’s client base ensuring that the only advice received by their client is the requested specialist pension advice.
MD Pension Solutions specialises in personal pension transfers but is also experienced in annuities, SIPPS and regular contribution plans in addition to a raft of other offerings.
It will pay 1.5% of the transfer amount to the broker and 11% of the first year’s contributions on a regular plan.
Mark Clinton, director at MD Pension Solutions, commented: “We are all aware of the current difficulties facing mortgage brokers and whilst the need for diversification is being embraced, brokers are still not fully maximising referral opportunities for other financial services offerings. We are well versed with exactly what brokers require and believe that our offering stands out because of our prompt payment procedures and non cross-selling guarantee.
“The potential of the pensions market is huge. This is especially apparent for pension transfers as millions of UK savers are currently wasting £billions and putting their retirement pot at risk by leaving their cash in woefully underperforming pension funds. The unfortunate thing is that individuals don’t often realise this and even if they do, they are unsure of how these schemes can work best for them. By offering clients a free pensions review brokers can really add value to their offering by providing their clients with a far more holistic advice process whilst also opening up a lucrative extra revenue stream.”
