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Pension fund 25% cash drawdown
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companies like HL just keep the commission from the funds for themselves. These DIY companies arent in it for love. HL make between 0.5%-0.75% p.a. on the fund value. So, taking a term of say 20 years and ignoring compounding and future growth they make 10-20%.
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100% agree. Why do you think that some of the larger financial services companies now off a FREE SIPP - The wrapper is free but the funds are costing you 0.25% - 0.75% p.a.
Its just another way to pull the wool over the clients eyes, which is why I still believe its worth getting advice - especially if its going to end up costing you the same over time.0
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