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  • How IFAs Can Make the Most of the Pension Changes

  • Following the recent pension rule changes that came into force on the 6th April, the role of and requirement for an Independent Financial Adviser has become more important than ever.


    Any change to financial rules offers an excellent opportunity for IFAs to build their relationships with existing clients. This particular rule change gives you the opportunity to establish yourself in the clients’ mind as their trusted adviser.

    At Cloud 9 Admin, we offer full administrative support for IFAs and are able to help you utilise your client database to make targeted contact with your clients in relation to the rule changes, for example:

    • Search all the clients in the 55 to 75 age group whether or not they have pensions with you
    • Send mailshots – either by email or post to provide more information about the new rules and where you can offer advice
    • Set up cohorts of mailing lists of clients who are approaching their 55th birthday
    • Prioritising your clients and making appointments with them.

    Reasons to contact your clients

    It is almost a guarantee that if you don’t make contact with your clients, someone else will – remember the news items about pensions’ data having been sold and the likelihood of massive cold calling campaigns and scammers?


    But there are other reasons to contact your clients about their pensions:

    • The actual rule changes are quite complicated, by providing some simple information you are building up your role as the “go-to” financial expert.
    • Clients will expect you to get in touch – if you don’t, this might lower your credibility or they may think you are no longer trading.
    • Price Waterhouse carried out a survey in March showing that fewer than 40% of eligible people had been contacted by their pension company regarding the rule changes, so this is an opportunity for you to provide useful information
    • Even if the client does not have a qualifying pension, it is a good excuse to make contact and they might pass your name onto people who do qualify.
    • There is a lot of concern about scammers and you are someone they know who is fully covered by the FCA.
    • You could earn more money.

    If you have not contacted all your relevant clients yet and would like some assistance, Cloud 9 Admin specialises in administrative support for IFAs and will be able to provide the support you need.