Pensionlite-does anyone know anything about this company?

sun99

I am currently talking to a pension management company called “Pensionlite”. Does anyone know anything about this company? Are they reliable? Is it cost effective and better to use a pension management company instead of a Financial Advisor? The previous FA that I used did nothing apart from collect their commissions from pension companies. Under the current economic climate what is the best way forward with personal pensions? Do nothing or seek an advice from a FA or pension management company?

dunstonh

Is it cost effective and better to use a pension management company instead of a Financial Advisor?

No difference. Its same job, same authorisations, different title.

The previous FA that I used did nothing apart from collect their commissions from pension companies.

Is that fact or your opinion. Most legacy pension contracts dont pay any trail commission. Modern ones can but usually at the expense of initial commission or at an increased cost. The vast majority pay no trail though. Its probable the adviser was doing nothing because he wasn't being paid to and I guess you weren't contacting him/her either.

Under the current economic climate what is the best way forward with personal pensions?

No different to any other time. Economic climate has no impact on the fact you need money in retirement. It has no impact on whether you should invest or not, especially on a monthly basis.

Do nothing or seek an advice from a FA or pension management company?

Your options are use an adviser, DIY or do nothing.

Debt_Free_Chick

sun99 wrote: »

I am currently talking to a pension management company called “Pensionlite”. Does anyone know anything about this company? Are they reliable? Is it cost effective and better to use a pension management company instead of a Financial Advisor? The previous FA that I used did nothing apart from collect their commissions from pension companies. Under the current economic climate what is the best way forward with personal pensions? Do nothing or seek an advice from a FA or pension management company?

Never heard of a "pension management company" and Pensionlite are Independent Financial Advisers.

Incidentally, they don't just advise on pensions, but across the range of all financial products.

I don't see anything particularly "special" about them, just looking at the website.

Naughty of them, however to force you to give (at least) your name and phone number just to use the FSA pension calculator, when you click on the link from their website (the calculator's not available at the moment, anyway).

How did you hear of them?