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Protected Rights
Comments
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So am i right in thinking this is as good as any of the limited options available, or rather no worse than, as far as economy goes?. cheers.0
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Aegon Scottish Equitable will take on protected rights drawdown. Their charges (with nil commission to IFA) start at 0.5% amc!0
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Scot Widows is not the best option.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
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Aegon Scottish Equitable will take on protected rights drawdown.
But will they take small funds?
The problem relates to people who have already put their main fund into drawdown in a Sipp (eg at Hargeaves Lansdown or Sippdeal) but can't move their PR money in yet because the DWP needs to change the rules.
Most lifeco drawdowns seem to specify a fund size of 100k ( the Widows PR drawdown seems to want 50k- but perhaps thois HL agreement resolves this). This is on risk grounds AFAIK.
Of course there is no risk problem here as the total of the Sipp drawdown and the PR drawdown will be well over the limits in these cases.
Are the lifecos willing to be flexible in this area?Trying to keep it simple...
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Back to Selestia with £3600 minimum I believe. I did a £25k with them before christmas on drawdown.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
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But how much is the adviser going to charge for Selestia? HL's 300 quid fee is reasonable.
Plus Selestia charges an annual fee on top of the fund charges, that's no good.Trying to keep it simple...0 -
I did try with selestia but they wouldn't deal direct, i'm pretty sure my fund is at least 50k so i should be ok with the widows.0
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shiredeon wrote:I did try with selestia but they wouldn't deal direct, i'm pretty sure my fund is at least 50k so i should be ok with the widows.
Why Widows when there are better options out there? Scot Eq and Winterthur for starters.0 -
whiteflag wrote:Why Widows when there are better options out there? Scot Eq and Winterthur for starters.
Coz i didn't know, hence my post, but now i do and i'll investigate further, my original reason for the widows was that H'L discounted the charges, why are sco eq and winterthur better?.
What i want to do is invest in income producing funds and take the yield if and when it materialises. cheers.0
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