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Pension Transfer Costs
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Are you on a servicing contract or not? You havent said. If you are then it is high and I would question it. If you are not then its fair as you are paying per advice/transaction.
People dont realise the level of costs an IFA firm has. Costs can run to around 30-50% of the income. You see £1000 as high but thats just turnover. By the time its turned into gross profit then its probably around £600. Get the IFA to take the fee from the pension rather than by cheque. You effectively get tax relief on the fee then.
Can confirm I am paying per transaction as opposed per servicing contract. thanks0
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