Safeguarded Benefits Committee Criteria

All clients must within two years of accessing benefits or retiring

  • Transfer values must be equal to or over £400,000 o The client must also have £25,000+ in a combination of easily accessible cash or savings.
  • Our minimum charge will be £10,000 (in line with our normal charging structure of 3% to £300k and 1% thereafter)
    • We will charge £10,000 whether we advise the client to transfer or remain in the scheme
    • Charges can only be taken from the pension if the client is advised to transfer
  • All retirement plans must pass our cashflow analysis with money remaining at age 100
    • Using our pre-determined growth rates and a stress test appropriate for the level of risk being taken
    • A minimum income in retirement of £19,000 (net) for an individual and £25,000 (net) for a couple will be used unless the client expresses a need for a larger income
  • We will advise clients who qualify for the contingent charging carve out for reasons of serious ill health and an inability to pay the non-contingent fee
  •  Clients must be UK residents
  • We do not offer abridged advice
  • We do not offer advice on estimated transfer values
  • We will not advise clients looking to use the contingent charging carve out for reasons of financial difficulty
  • We will not advise clients introduced by other firms
  • We do not advise on opt outs from schemes
  • We will not take on insistent clients
    • Either those who are certain they want to transfer prior to advice being given or those who do not accept advice to remain in the scheme

Internal Rules

  • 5-year liability declaration must be signed on shared cases.
  • If an adviser decided to leave the business, any DB clients will be retained by us, unless liability for the advice is transferred away from Prosperity Wealth.
  • Please engage a PTS prior to a CETV being requested, do not just request a CETV to “have a look”.


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