The link with Which Network will allow firms dealing with the financial network consultancy direct access to the MD Pension Solutions proposition.
Which Network has spent months researching various pension advisory specialists before choosing to add MD Pension Solutions to its growing list of additional income opportunities for mortgage brokers and financial advisers.
The pension’s specialist is fully FSA regulated and operates to the strictest of professional standards. The senior management have many years experience in the intermediary market and fully understand what is required in relation to service, commission and transparency.
The FSA’s TCF ethos is fully embraced within all aspects of the proposition. Processes have been specifically designed to not only adhere to TCF guidelines but also to ensure they are at the very heart of company.
The company 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 also pay 1.5% of the transfer amount to the broker and 11% of the first year’s contributions on a regular plan.
The pensions referral service comes with the added guarantee that it will not cross-sell to the broker’s valuable client base ensuring that the only advice received by their client is the requested specialist pension advice.
Mark Clinton, director at MD Pension Solutions, commented: “We have been very impressed by Which Network and we’re delighted to be able to offer access to our comprehensive service via its proposition.
“This is the latest step in our plan to build a large group of affiliated companies. We are all aware of the current difficulties facing intermediary firms and whilst the need for diversification is slowly being embraced, many are still not fully maximising the range of referral opportunities that are available.
“The potential of the pensions market remains huge and we are constantly looking at ways to support firms to enable them to benefit from this sector.”
Paul Day, director of Which Network Ltd, added: “Lots of firms are accepting introduced pension and investment business from mortgage brokers but we were looking to partner someone who went that extra mile.
“After extensive research we found that MD Pension Solutions offers the most comprehensive package by far as it helps brokers to market this service practically and advises them on how to enable the maximum number of their clients to benefit from this service.
“With recent problems and cut backs in both public and private pension schemes, now is the ideal time for brokers to expand their services into this area to enable them to save clients money as well as generating an additional income stream for their business.”
