O&M and Origen's Strategic Partnership
Due to the challenging market conditions, with regular intervention by the FCA and the rapidly rising cost of professional indemnity insurance, most advisers have now chosen to stop offering Defined Benefit (DB) advice, with O&Ms Transfer Adviser Service being one of those affected.
This is where the strategic partnership between O&M Pension Solutions and Origen's DB Advice Service can help you.
Origen is looking to work with new firms and currently has capacity to start work on new cases immediately.
Why should I use Origen's DB Advice Service?
- Origen has a great wealth of experience providing advice on final salary pension schemes. They were one of the authors of the Pension Transfer Gold Standard and their advice process is built on their experience of providing DB advice to over 20,000 scheme members in the last decade.
- Origen is one of the UK’s leading national financial advisers, with a history of providing advice for over 130 years. They have received numerous awards in recognition of their service, including Retirement Planning Advisory Firm of the Year in each of the last eight years. Origen was created in 2005 following the amalgamation of five advice firms; Advisory & Brokerage, Aurora, Elliott Bayley, Momentum and Wentworth Rose.
- Origen will provide a due diligence document to evidence their service quality and governance.
- Origen has Professional Indemnity Insurance in place which is reviewed annually.
- Origen use O&M's pension transfer bureau expertise for the production of TVCs and Pension Transfer Analysis reports under this service.
If you are interested in this service, please contact Origen using the details on the right.
How Origen's Service helps you and your clients:
- New advice firms can be onboarded within five working days.
- Your clients can be referred to us by sending a simple encrypted referral introduction form.
- Our Client Services team will arrange the appointment and send the pre-appointment materials in advance of the meeting.
- A dedicated Pension Transfer Specialist and Relationship Manager local to your firm and office will keep you updated as each case progresses.
- Competitive fee structure is capped at £15,000 plus any abridged VAT element; the capped fee includes the cost of providing the abridged advice report.
- We set resource aside for each firm on a best endeavour basis to ensure that we can deliver our advice within the 90 day CETV window.
- We aim to deliver our advice within two weeks of the CETV expiry date to ensure your clients have sufficient time to make an informed decision.
- We do not take ownership of your clients at any point during the transfer advice process.
- Weekly or monthly MI is provided with case progress for complete transparency.
- Origen is 100% owned by Aegon UK plc, providing reassurance and financial support for the long term.
- Our PI cover is in place and meets all regulatory requirements.
Anything else I should know?
There is simply a DD and contract process that aims to have firms onboarded within 2 weeks.
Service levels are not guaranteed as this depends on a number of factors beyond both Origen's and O&M's control.
An estimated timeframe is 10 weeks for Origen to complete the full advice process (abridged and full advice).
O&M will start work on the transfer analysis in line with their service levels, once the case has been received from Origen.
You can view the service levels for O&M's Transfer Bureau service here.
The referral service on offer is limited to DB pension benefits only.
Once Origen has agreed to work with an adviser firm, they will allocate a Relationship Manager who can be contacted to discuss any questions. Regular updates will also be provided to the referring adviser on each client.
Origen is responsible for the advice process and will request O&M Pension Solutions to produce the Pension Transfer Analysis Report. Please refer any queries directly to Origen, who will be able to address your questions during this process.
Origen will not discuss the client, Origen analysis or their recommendation with you. Origen is responsible for the provision of the advice service to the client.
Since pulling out of the DB advice market in 2018, we are still constantly asked by advisers to recommend or introduce them to a firm who can assist their clients in this specialised advice area.
O&M have been working with Origen for a number of years and have great confidence in the quality of their advice.
O&M does NOT earn any fees for any referrals or introductions to Origen under this service. We are likely however to be involved in the production of the TVC/Pension Transfer Analysis report for such cases and charge Origen for this service, at the same rate as all other O&M customers.