Nearly half of advisers (47%) have seen an increase in insistent defined benefit pension transfer clients disagreeing with their recommendations in the past year, new research from pension specialist and SIPP provider Momentum Pensions shows.

Its study found nearly two out of three advisers (63%) say their biggest concern about the rush in transfer business is the risk of facing future liabilities from advice being contested by clients.

Advisers would like to see more legislation introduced to protect clients. Around 58% say rules stipulating DB transfer funds should be invested in solutions which offer capital protection and hedges against inflation and volatility should be introduced.

Momentum Pensions head of sales John McCreadie said: “There is clearly strong demand for DB transfers with The Pensions Regulator estimating around 80,000 transfers a year with up to £50bn moved over two years.

“It is a real issue for advisers faced by clients who are insistent on moving to benefit from relatively high transfer values and the perceived increased flexibility of SIPPs and DC schemes.

“DB schemes pensions offer valuable benefits and anyone transferring should be looking for choice and value from their investment selection as well as full flexibility and a range of ways of accessing the solution.”

Research was conducted in September 2017 by PollRight with 102 advisers specialising in pensions planning.

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