The new service was said to be in response to a clarification made by the FCA.
 
In line with the new regulatory guidance, there will be a charge for the TVA service and reports.

Each report will cost £150 + VAT.

The new service will be launched on 14 May at 9am.
 
Old Mutual Wealth has been offering TVA services for more than 20 years and currently has a team of 12 members with more than 40 years’ TVAS experience.
 
The firm says the new TVA service “has been refined to ensure advisers can receive an accurate report as swiftly as possible.”

Requests for a report will be submitted through a new tool, which “will ensure all the essential information is captured.”
 
Scott Goodsir, managing director of UK distribution at Old Mutual Wealth, said: “A final salary transfer is often the most important piece of advice that a client will ever receive and having all the right information is crucial.

“Our new TVA service will help us support advisers and their clients as demand for this advice continues to surge.
 
“The accurate production of a TVA report is a key element of the DB to DC pension transfer process and our 12 strong TVA team are well-equipped to provide swift and accurate analysis.”