MD Pension Solutions has switched from multi-tied adviser to IFA status. It has made the move to facilitate expansion of its pension provider panel.

It says this will result in long term benefits for introducers through potentially higher commission levels and for their clients who will have greater access to niche providers and products if applicable.

The move will also allow the pensions specialist to accept introductions from solicitors and accountants and opens up the whole market for open market options for annuity purchases.

Mark Clinton, director at MD Pension Solutions, said: “Whilst we have always had an extensive panel it has been our strategy from the outset to become a fully fledged IFA firm. The importance of this became even more evident from feedback gathered by our newly mobile BDM team who have highlighted choice as being one of the fundamentals required in a broker referral offering. This change in status marks the next step in our development plans and will allow our BDM team to be even more proactive in ensuring that the need for diversification is being embraced by brokers who may still not be fully maximising the available referral opportunities.”””