[Misc] IFA pension types

Bozza · Oct 12, 2016

Are any NSCers an IFA pension type and/or can anyone recommend one?

Also, do these folk tend to charge, or do they just get a kickback from the providers?

Scunner · Oct 12, 2016

PM me for a good one...

dazzer6666 · Oct 12, 2016

Bozza said:
Are any NSCers IFA pension type of people and/or can anyone recommend one?

Also, do these folk tend to charge, or do they just get a kickback from the providers?

[MENTION=12697]Steve Foster[/MENTION] might be your man for this

Charge for advice these days - for complete transparency on fees (no more 'hidden' commission)

Guinness Boy · Oct 12, 2016

Not used them myself (or even aware if they might be one of those recommended above) but there is a guy on twitter whose Twitter handle is [MENTION=28194]pensionseagull[/MENTION] and who is a Brighton fan who provides exactly the service you're after.

Tim Over Whelmed · Oct 12, 2016

dazzer6666 said:
[MENTION=12697]Steve Foster[/MENTION] might be your man for this

Charge for advice these days - for complete transparency on fees (no more 'hidden' commission)

Seconded, this is your man.

Driver8 · Oct 12, 2016

I am but not local anymore as I work in Liverpool/Kendal. PM me if you have any generic questions or want a second opinion on anything.

kingcole · Oct 12, 2016

[MENTION=6886]Bozza[/MENTION]

You seem pretty clued up. Why not manage your own via a SIPP?

I use Hargreaves Lansdown. Not the cheapest but a great platform and excellent customer service.

Tom Hark Preston Park · Oct 12, 2016

Bozza said:
Are any NSCers an IFA pension type and/or can anyone recommend one?

Also, do these folk tend to charge, or do they just get a kickback from the providers?

I've got a CRACKING highly-respected one in Shoreham that is affiliated to one of the top accountancy firms in Brighton. Both have served me excellently over quarter of a century as an IT contractor.

They ALL charge, but it'll be out of your pension fund so will be pain-free to you as an individual. The fees will be upfront and visible.

As others have said, PM for details.

Steve Foster · Oct 12, 2016

Tim Over Whelmed said:
Seconded, this is your man.

Thank you for the kind endorsements. Always happy to help out NSC members. No charge for our initial meeting.

Check us out www.investment-solutions.co.uk

Or, Vouchedfor.co.uk (the only place where the public can rate their IFA, Accountant or Solicitor)

or pm me (no obligation, no hard sells)

Bozza · Oct 13, 2016

kingcole said:
[MENTION=6886]Bozza[/MENTION]

You seem pretty clued up. Why not manage your own via a SIPP?

I use Hargreaves Lansdown. Not the cheapest but a great platform and excellent customer service.

Thanks - I like to think of myself as pretty shrewd financially but I have one big blind spot and it's pensions.

I'll be honest, I've never paid much attention to them, having been with an employer for about 16 years that had what I understand to be a reasonable plan. I'd pay in a bit and they double matched it or something. I finally called the provider, Aviva, yesterday and I have three different pensions with them (I remember my employer kept doing some jiggery pokery over the years) and all three seem like quite healthy sized pots. The fees on each are different - 0.65%, 0.5% and 0.25%. The "what now?" bit is where I am.

Maybe the "what now" should be finally understanding how these things work for myself!

Tim Over Whelmed · Oct 13, 2016

Bozza said:
Thanks - I like to think of myself as pretty shrewd financially but I have one big blind spot and it's pensions.

I'll be honest, I've never paid much attention to them, having been with an employer for about 16 years that had what I understand to be a reasonable plan. I'd pay in a bit and they double matched it or something. I finally called the provider, Aviva, yesterday and I have three different pensions with them (I remember my employer kept doing some jiggery pokery over the years) and all three seem like quite healthy sized pots. The fees on each are different - 0.65%, 0.5% and 0.25%. The "what now?" bit is where I am.

Maybe the "what now" should be finally understanding how these things work for myself!

I always think of IFA's like solicitors, in terms of cost. If you think the good ones are expensive you see see how much the cheap ones can cost you.

chimneys · Oct 13, 2016

Tim Over Whelmed said:
I always think of IFA's like solicitors, in terms of cost. If you think the good ones are expensive you see see how much the cheap ones can cost you.

In a not dissimilar situation to Bozza. Currently being quoted 3% fee by a branded financial adviser if they recommend and I move my reasonably sized pension pot, so fee about the size of a new small car. Sounds like an awful lot for them chucking my details into a computer and it telling them the answer.

Also, future performance can, of course, never be guaranteed whoever you are recommended to, so can only be judged on past performance and annual fees. Currently with Aegon who I guess are likely to be solid.

Driver8 · Oct 13, 2016

chimneys said:
In a not dissimilar situation to Bozza. Currently being quoted 3% fee by a branded financial adviser if they recommend and I move my reasonably sized pension pot, so fee about the size of a new small car. Sounds like an awful lot for them chucking my details into a computer and it telling them the answer.

Also, future performance can, of course, never be guaranteed whoever you are recommended to, so can only be judged on past performance and annual fees. Currently with Aegon who I guess are likely to be solid.

That is expensive. We charge £2,500 for a suitability report and that would cover moving your existing arrangement if that was the thing to do. I'm happy to help if you want and there is no charge for an initial meeting. I am no longer local but have clients all over the country so meeting in Brighton not a problem. PM if you want any help.

Steve Foster · Oct 13, 2016

Bozza said:
Thanks - I like to think of myself as pretty shrewd financially but I have one big blind spot and it's pensions.

I'll be honest, I've never paid much attention to them, having been with an employer for about 16 years that had what I understand to be a reasonable plan. I'd pay in a bit and they double matched it or something. I finally called the provider, Aviva, yesterday and I have three different pensions with them (I remember my employer kept doing some jiggery pokery over the years) and all three seem like quite healthy sized pots. The fees on each are different - 0.65%, 0.5% and 0.25%. The "what now?" bit is where I am.

Maybe the "what now" should be finally understanding how these things work for myself!

What the three figures relate to (almost certainly) are projections assuming that return is achieved each year (not guaranteed)

Steve Foster · Oct 13, 2016

chimneys said:
In a not dissimilar situation to Bozza. Currently being quoted 3% fee by a branded financial adviser if they recommend and I move my reasonably sized pension pot, so fee about the size of a new small car. Sounds like an awful lot for them chucking my details into a computer and it telling them the answer.

Also, future performance can, of course, never be guaranteed whoever you are recommended to, so can only be judged on past performance and annual fees. Currently with Aegon who I guess are likely to be solid.

Sounds expensive (we charge 1.5% generally). My advice:

1. Seek Independent Advice
2. Check out the IFA on Vouchedfor.co.uk (the only place that an IFA can be rated nationally)
3. Check out the IFA firm website (a decent IFA will disclose their fees on their website)

Hope this helps

Bozza · Oct 13, 2016

Steve Foster said:
What the three figures relate to (almost certainly) are projections assuming that return is achieved each year (not guaranteed)

No, they're not. I essentially have three different pensions with Aviva. Three different TKxxxxxxxxx plan numbers, and three different current values...

Steve Foster · Oct 13, 2016

Bozza said:
No, they're not. I essentially have three different pensions with Aviva. Three different TKxxxxxxxxx plan numbers, and three different current values...

View attachment 78626

I would suggest that you make an appointment with an IFA. We give an initial 45 minute without charge (as you would have seen in earlier posts) we have helped out other NSC folk, or alternatively seek another IFA, most will give an initial consultation at their expense.

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