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Finding a pensions adviser
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clairehi
Posts: 1,352 Forumite
Hello all
I posted a while back about my DHs pension situation, which has now got even more complex and I need professional help!
I need to find a trustworthy adviser who can help us with our retirement planning. I have been putting it off because Im not sure what to look for (are there specific qualifications?). Can anyone give me any tips on how to find the right adviser. I am very afraid of getting burnt here! Should we expect to pay a fee and if so is it normal to pay on an hourly rate or flat fee for the job.
For background, DH has a number of old pension schemes which are as follows:
-Windsor Life policy with approx 7 years SERPS/S2P contributions paid in.
-Approx 18 months contributions to PSCPS
-10 months contributions to other occupational FS scheme.
He has recently joined a new employer who operate a stakeholder scheme with 8% employers contributions. If he doesnt join I believe the employers contributions could be paid to us to invest elsewhere, increasing the options.
Just to make it more interesting, we also need help with IHT planning, nothing too complex though, and need to take out long term income protection insurance and could do with reviewing life (term) assurance cover.
Editing to say - Im not sure if I have been clear in explaining that we need advice both on pension transfers and what pension scheme to go for in future. I have had a look at unbiased.co.uk which is very good, but Im not sure whether or not I need a dedicated pensions specialist for this work.
I posted a while back about my DHs pension situation, which has now got even more complex and I need professional help!
I need to find a trustworthy adviser who can help us with our retirement planning. I have been putting it off because Im not sure what to look for (are there specific qualifications?). Can anyone give me any tips on how to find the right adviser. I am very afraid of getting burnt here! Should we expect to pay a fee and if so is it normal to pay on an hourly rate or flat fee for the job.
For background, DH has a number of old pension schemes which are as follows:
-Windsor Life policy with approx 7 years SERPS/S2P contributions paid in.
-Approx 18 months contributions to PSCPS
-10 months contributions to other occupational FS scheme.
He has recently joined a new employer who operate a stakeholder scheme with 8% employers contributions. If he doesnt join I believe the employers contributions could be paid to us to invest elsewhere, increasing the options.
Just to make it more interesting, we also need help with IHT planning, nothing too complex though, and need to take out long term income protection insurance and could do with reviewing life (term) assurance cover.
Editing to say - Im not sure if I have been clear in explaining that we need advice both on pension transfers and what pension scheme to go for in future. I have had a look at unbiased.co.uk which is very good, but Im not sure whether or not I need a dedicated pensions specialist for this work.
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Comments
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you need an advisor who has taken the G60 pensions exam - commission and/or a fee is usually paid for pension advice.
As far as i know - if your company is contributing - join the scheme!{Signature removed by Forum Team - if you are not sure why we have removed your signature please contact the Forum Team}0 -
Ive just checked unbiased.co.uk and of the 5 IFAs nearest to where I live, all have the g60 qualification. am I just lucky or is this something that everyone has?0
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G60 is one of the more popular further qualifications but it is unusal to get some many so close to you like that. So, just lucky
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
OK, so my next step is to ring around some of these guys.
Another question - how would you feel about dealing with an IFA whose company had a high risk credit rating? think I may skip that one.0
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