Broker fees for pension referrals

28 September 2009

Natalie Holt

MD Pension Solutions is working with brokers to give their clients access to specialist pensions advice, with brokers paid for referrals.

The firm specialises in personal pension transfers but can offer advice on a range of options including annuities, self-invested personal pensions and regular contribution plans.

For pension transfers brokers will be paid 1.5% of the transfer amount and for regular contribution plans they will earn 11% of the first year's contributions.

MD Pension Solutions says it will only be giving advice on pensions and will not cross-sell products that are available through brokers.

Mark Clinton, director at MD Pension Solutions, says: "By offering clients a free pensions review brokers can add value to their propositions.

"It will allow them to provide more holistic financial advice."

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