When it comes to pensions, the phrase “financial advice” gets used a lot, but not always clearly. At Pension App, we believe users should know exactly what they are getting when they use our service. That is why we are clear that Pension App is an execution-only platform. We do not offer financial advice or guidance. So, what does that mean in practice? And how does it differ from services that do provide advice?
Financial advice refers to personalised recommendations given by a qualified and regulated adviser. It is tailored to your circumstances and typically includes suggestions about how to manage your money, which products to choose, and what steps to take for your future.Advisers must be authorised by the Financial Conduct Authority (FCA) and may charge a fee for their services. You can usually expect a suitability report that explains why certain actions or products are right for you.
An execution-only service is very different. It means you are in control of your own decisions, and the provider simply carries out your instructions. No recommendations are made, and no personal circumstances are considered. Pension App is an execution-only platform. We help you trace, combine and manage your pensions using simple tools and a clear interface. You can see daily performance, switch between investment fund options, and use features like online withdrawals. But at no point will we tell you what you should or should not do with your pension.
While Pension App does not provide advice or guidance, there are free and impartial services available if you need help understanding your options: MoneyHelper is a government-backed service offering general information on money and pensions. It can be helpful if you are looking to better understand how pensions work. Pension Wise, part of MoneyHelper, offers free appointments to anyone aged 50 or over with a defined contribution pension. These sessions provide information about your choices for accessing your pension, though they do not offer personalised recommendations. For users who require regulated advice, it is important to speak with an independent financial adviser.
Pension App is built for simplicity, clarity and control. Our goal is to make pension management more accessible, without unnecessary complexity. With daily value updates, clear fund options and no paperwork, users can take control of their pension in a way that fits around their lives. This approach supports our mission to empower individuals, while making pension management secure and straightforward.
Pension App does not offer advice or guidance. If you are unsure about what to do with your pension, it may help to speak with a regulated adviser or use free services like Pension Wise.
With pensions, your capital is at risk.