Warning - boring - Pension and financial adviser question

[Mellotron]

Yes but how much of the general population agree with you, 10% ? The vast majority would not pay £ 500 for advice on their pension when they could get a 50 inch flatscreen plasma tv for that.

Agreed it can be difficult with people having the (incorrect) perception that financial advice used to be free. It has never, ever been free, the costs were simply hidden to them. It is also that we're in a far more instant culture, and that is not what our job is about at all. We deal in investments of 5-10 years+

It is frustrating as we have the tools and expertise to comfortably beat the banks the vast majority of the time...

 

[virtual22]

I think the good thing about RDR is it did raise the minimum qualification requirements, still work to do here though and chartered will and should be the benchmark. The rest of the changes in RDR I would question as actually being positive for the general public.

 

[Mellotron]

I think the good thing about RDR is it did raise the minimum qualification requirements, still work to do here though and chartered will and should be the benchmark. The rest of the changes in RDR I would question as actually being positive for the general public.

A lot of it has meant about double the paperwork with no real reason, so ultimately that affects the client negatively.

 

[Arkwright]

Funny just been looking at my pension, wishing my life away to retirement and I'm only 50. So much advice you never know what best to do, my wife I have merged all our pension funds into one pot (two separate pots - one each) and taken out a draw down scheme where you can draw funds rather than buy an annuity. Whether that is the best advice only time will tell.

What sort or returns should you get on a pension fund, I was told ages ago that every 7 years your money should double but that certainly hasn't been the case with any of my pension funds.