Pensions referral service launches for brokers
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MD Pension Solutions has decided to open its doors to mortgage brokers and is offering commission of 1.5% of the pension transfer amount and 11% of the first year’s contributions on a regular plan.
The company specialises in personal pension transfers but also has experience covering a range of pension options including annuities, self-invested personal pensions and regular contribution plans.
MD Pension Solutions says it will not be cross-selling to brokers’ client base and will only give specialist pensions advice.
Mark Clinton, director at MD Pension Solutions, says: “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 add value to their offering by providing their clients with a more holistic advice process whilst also opening up an extra revenue stream.”
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