Defining Broken Transfers: How should the advice sector handle insistent clients?

Summer series continues

Hannah Godfrey
clock • 13 min read

If all advisers avoid insistent transfer clients and deny them what they want, then there goes a theory that eventually their fate will end up in the hands of those more unscrupulous. So, how does the advice sector as a whole deal with these determined clients?

Insistent clients are big business in the world of defined benefit (DB) transfer advice. So big, in fact, some 9,534 insistent clients were transferred out of DB schemes between April 2015 and September 2018. That data from the Financial Conduct Authority (FCA) means insistent clients were involved in about one-in-eight (13%) of all those who transferred. What is more, these insistent client cases came from 620 firms - or 25% of all advice businesses that have advised on DB transfers since pension freedoms. That said, anecdotal evidence suggests facilitating insistent client transfers is becoming...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advised clients want more personal investment communication

Advised clients want more personal investment communication

Four in ten say comms focused more on product than goals

Jenna Brown
clock 12 November 2026 • 3 min read
How economic abuse manifests itself in pensions, mortgages and protection

How economic abuse manifests itself in pensions, mortgages and protection

Second in a three part series

Shelley Read
clock 11 November 2026 • 5 min read
Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read