Become an Pension Transfer Specialist
How to become a Pension Transfer Specialist
To become a Pension Transfer Specialist, advisers must first pass a professional level 6 qualification such as the LIBF Pension Transfers (PETR®) exam. PETR® is a recognised professional qualification for any candidate that wants to provide UK pension transfer advice. UK private pensions are regulated by the Financial Conduct Authority (FCA) and Work based pensions including occupational pensions (i.e. Final salary) are regulated by the Pensions Regulator, which requires all advisers to attain the relevant qualification before they can advise on pension transfers. Candidates must already be level 4 qualified with the LIBF Diploma for Financial Advisers (DiPFA) or equivalent. Since The Pension Schemes Act 2015 there is now a requirement that individuals with a safeguarded pension valued over £30,000 need financial advice before they can give up the benefits, these will include a Final salary pension and other occupational guaranteed pensions. Advice is required when an individual wants to convert/transfer those benefits into a flexible benefit such as a private pension. A Pension Transfer Specialist can also check advice that has been given by another adviser.
Pension Transfer Specialists role:
- Meeting with clients to discuss their current circumstances to establish suitability and whether a pension transfer is appropriate based on their needs, circumstances and risk profile.
- Calculate and analyse whether the transfer is financially viable and within the client’s best interest.
- Select the most appropriate private pension from the vast range available if transferring to a private plan.
- Explain complex financial information simplistically to clients.
- Explain the features, benefits and risks of the advice recommended.
- A Pension Transfer Specialist can also check the advice process made by another adviser and confirm that the personal recommendation is suitable.
Pension Transfer Specialist skills:
- Excellent communication skills, both verbal and written.
- Excellent numerical skills.
- Honest, trustworthy and ethical.
- Sociable and friendly.
- Hardworking and diligent in order to keep their knowledge up to date.
LIBF Course Info
Professionals who want to offer pension transfer advice need to meet FCA requirements. The LIBF Level 6 Pension Transfers (PETR®) is an industry recognised qualification, providing individuals with the appropriate qualification to practise. The LIBF Level 6 Pension Transfers (PETR®) provides the knowledge and the ability to offer advice and is designed to ensure that the adviser obtains the highest quality educational material and assessment opportunities. Pension transfers are a complex field and are regulated by the FCA which requires certain standards to be upheld. This qualification is easily achievable with an unbelievable exam turnaround. At Clarity FT we will support you all the way until you pass your exam. The course content covers the whole scope on pensions; covering regulation, client needs, law, etc. There are 2 study sessions each year, one in February and one in August. Students must ensure that they join the relevant Clarity FT course.
The price for the exam and registration is £490.00. This is payable separately and paid direct to the LIBF.
Overview: The Pension Transfers (PETR®) qualification is assessed via 1 module and provides the essential knowledge required to provide pension transfer advice. The qualification will cover the rules and regulations that support pension transfers and includes the advice process to meet client needs. The exam consists of two sections. One section is based on a pre-released case study and the second section is assessed via standalone written questions totalling100 marks. The pass mark is 40%
At Clarity Financial Training Ltd we offer professionally delivered PETR® training courses that help students pass their exams with confidence. Whether you have existing experience or are new to the industry our workshops are aimed at covering each syllabus to help understand and gain the relevant exam technique to pass the qualification with ease. We have various study options available to assist you to tackle the exam and pass.
How Clarity FT run the course
At Clarity FT we offer various study options to complete your Pension Transfer qualification studies. Included are well written and easy to understand materials to help students understand how regulation and pension transfers work. Our courses include full presentation material, mock exams and email support until you pass. The tutors at Clarity FT have had undisputed success in helping numerous individuals pass their qualifications; we have the knowledge and the experience to help you succeed. The materials include:
- Classroom slides booklet and tutor led presentation
- Daily test questions and/or appropriate handouts
- Mock exams (if the exam is multiple choice based)
- Full aftercare support offered by e-mail direct to your tutor
- Light refreshments, including microwave for general use (Class based)
- Free parking for all students (Class based)
- Pass guarantee (you are with us until you pass)
- Class based
- Web based
Ways to Study
At Clarity Financial Training Ltd we are committed to offering you choice and convenience, so we have various study options to gain your LIBF qualification available for you to choose from. At Clarity FT we offer CeMAP® distance blended learning, as well as DipFA® In-House training and CeRER® one-to-one. If you prefer the traditional classroom setting you can select this option. If you live some distance from London and cannot commit to the overnight stay try our other methods, either our on-line web tutor which is run real time, blended/distance learning or in-house (subject to minimum numbers) or if you prefer the personal touch have an exclusive one to one session. Click on the following and read for yourself which option best suits you.
We Offer the AwPETR qualification via all study options:
Choose the solution that suits you. Book now.