Serps Review

honizz

Thanks Jamesd I like your style

jem16

honizz wrote: »

Not that many of you will care too much but I may not leave, Dunstonhs reply of cheerio is not unexpected. Not very good manners for someone who almost cost me 9k,

I gave you exactly the same "advice" in that someone in your age group would normally be better off contracting out so I think you are being a bit unfair by accusing Dunstonh of almost losing you £9k.

All the info here points to the fact that at age 32 you would have been better off contracting out and had your chosen investments been better, you would have been.

http://www.activewealth.co.uk/pdf/fsa/retirement/s2p-wrongly-advised.pdf

Out of interest, how did you manage to transfer your Abbey pension to Aviva in the middle of a claim against Abbey?

dunstonh

I am aware of a complaint that was recently upheld with a claims company which I will not name (so could be any one of them) where they stated the person wanted no risk. Yet the claims company, through their advisory arm, went on to transfer the pension in the middle of the complaints process and put a good chunk of it in asia pacific. So, how is it that a complaint was made saying they didnt want any risk but then invested a good chunk of it in a higher risk area? In that case, I believe the case is was upheld. Not because the advice was bad but because the documentation on file is weak as its from a time of lower admin retention and its cheaper to settle via the insurer than pay the fees to argue the case. Just because a payout is being made does not mean there was a genuine complaint.

Some complaints are just cheaper to settle.

honizz

Sorry jem I shall blame you too. I am not sure what DunstonH means completely but during my claim I was asked what risks were discussed at the point of sale. Including risks from losing guarantees to stock market risks. I still have a copy of my form it also asks what investments I had previously. I didnt recall any discussions. Certainly didn't have any other experience. I suppose it was this that won the claim.
As far as moving the money it obviously wasn't an issue. I have chosen new funds with risk but only a percentage I also have some funds in low risk things. The advisers gave me a bit of help and DunstonH actually helped a little by confirming trustnet is useful. I don't intend. Changing funds everyday but certainly learning a few things now I need to.

I asked my friend she has a range of funds I'm kind of copying her a little but she says the key is understanding what you have I suppose you know that.

Anyway if anyone needs any help picking funds I'm raring to go. Lol

honizz

DunstonH 9k doesn't sound cheap. What I wanted when I was 32 wouldnt be the same as what I want now I suppose we change or learn. Maybe.

honizz

Sorry the transfer didn't seem to be affected by the claim or vice versa. It actually seemed quite straightforward no one ever cAlled or wrote to say there was an issue. You've got me worried now though I will check tomorrow.

jem16

honizz wrote: »

The advisers gave me a bit of help

Were the advisers who helped transfer the pension part of the claims company?

honizz

Jem no a separate company. There is something wrong with mse i made apost yesterday naming the company and checked today for any update and the post was deleted infact the whole thread is gone I was ranting a little but still. I didn't really want much in terms of advice so worked out fees/commission based around a list of options and made some choices. This time I did get a second opinion a third if you include Mse input but the outcome is something I understand and can use I think I can even go online although that may not happen.

dunstonh

Jem no a separate company.

Are you sure? I think you will find they have a lot in common.

jamesd

honizz wrote: »

There is something wrong with mse i made apost yesterday naming the company and checked today for any update and the post was deleted infact the whole thread is gone I was ranting a little but still.

I read that while it was still around. The MSE staff will have removed the whole topic because it was started by a spammer, even though you didn't believe that. Your post probably had nothing to do with that decision, just went along for the ride when the rest went. Happens sometimes and the MSE staff and regulars here are pretty good at telling the difference between spam and real humans asking questions. You will be too after a while, so don't worry about it for now.

Best thing for you to do is relax, try to avoid heated discussions and just settle in gently for a while. It's more interesting here if you do things that way and don't focus just on disagreements.