Execution-Only Pension Transfer Services Explained
An execution-only pension transfer service lets you make the decisions while a regulated firm carries them out. Here's how it works and who it's for.
An execution-only pension transfer service is built for people who already know what they want to do with their pension and don't want to pay for advice. You make the decisions; a regulated firm carries out the transactions. No recommendations, no advice charges, no hand-holding. This guide explains exactly how it works and who it suits.
What "execution-only" actually means
In UK financial services, "execution-only" describes a transaction carried out by a regulated firm at the explicit instruction of the client, without advice or recommendation. The firm does not assess suitability — that's your responsibility. The firm's job is to action your decision cleanly and within the regulatory framework.
For pension transfers, this typically means:
- You instruct the transfer of an existing pension (for example, a QROPS) into a new scheme of your choice (for example, a UK SIPP)
- The firm handles the paperwork, scheme manager liaison and platform setup
- You direct the investment choices
Who execution-only is for
Execution-only suits:
- Experienced investors comfortable making their own asset allocation and product selection decisions
- Cost-conscious savers who don't want ongoing advice fees of 0.75–1.5% per year
- Returning expats who already know they want a UK SIPP and just need it actioned
- People who've already had advice elsewhere and just need execution
It does not suit anyone who wants guidance on what to do, needs help understanding the trade-offs, or who would benefit from ongoing portfolio reviews.
Execution-only vs full advice — the cost difference
Full advice on a pension transfer typically costs 1–3% of the pot as an initial fee, plus 0.5–1% per year ongoing. On a £500,000 pension, that's £5,000–£15,000 up front and £2,500–£5,000 per year thereafter — possibly forever.
Execution-only typically costs a flat fee or small percentage for the transaction itself, with no ongoing advice charge. The platform fee on the SIPP itself remains either way.
For experienced investors with clear plans, the saving over a decade is significant.
What a regulated execution-only firm does
Even though there's no advice, the firm still:
- Verifies your identity and source of funds
- Issues regulatory disclosures
- Confirms in writing that you understand it's execution-only
- Carries out the transaction through a regulated platform
- Provides a clear paper trail
You're not on your own — you're just paying for execution, not for advice.
Common execution-only use cases
- QROPS to UK SIPP transfer — You've decided to consolidate to a SIPP; we action it
- SIPP provider switch — Moving from an expensive SIPP to a cheaper one
- Pension consolidation — Combining multiple existing pensions
- Drawdown setup — Establishing a flexible drawdown arrangement on your terms
Where it crosses the line
Execution-only stops being appropriate when the transaction itself depends on tax planning, regulatory analysis or suitability that you can't reasonably evaluate yourself. If you're unsure whether a transfer is structurally a good idea, that's an advice question — not an execution one.
A 30-minute conversation usually clarifies which side of the line you're on. We're happy to tell you when you'd be better off paying for advice — and when execution-only is genuinely the cheaper, smarter route.
The IFA.ae approach
We offer both. Full advice for clients who want guidance. Execution-only for clients who don't. We don't push one over the other — your circumstances dictate the answer.
Related questions
- Can I Transfer My QROPS to a UK SIPP?
- How Much Does It Cost to Switch From a QROPS?
- QROPS Underperforming: What Are My Options?
Not sure where you stand?
Book a free 30-minute consultation with an IFA.ae adviser — no obligation, no jargon. We work specifically with British expats returning from the UAE, so you don't have to explain your QROPS, your dirham accounts or your offshore bond from scratch.