Purchased Life Annuities: some basic questions

CannySaver_2

atush wrote: »

Or you could be just looking for some free unpaid advice lol.

Personally I like that industry professionals come here and try to help out. But for their trouble, they either get attacked for being what they are, or get snarky comments because they won't do free consultations.

Always happy to pay for advice not looking for a free consultation nor indeed have I made a sarky comment or attacked dunstonh.

Dunstonh has just mentioned an interesting product, which pays 5% incoem irrespective of what happens to the capital, I'm just interested to know more as I am sure other people are too.

The Canny Saver

browniej

CannySaver wrote: »

I do not see a problem with asking a poster to expand on a product which could well be interesting for other posters.

The Canny Saver

4 times from you and 3 times from another poster. Does that not seem a little over the top?

CannySaver wrote: »

Always happy to pay for advice not looking for a free consultation nor indeed have I made a sarky comment or attacked dunstonh.

No you haven't but is that true throughout this thread?

Dunstonh has just mentioned an interesting product, which pays 5% incoem irrespective of what happens to the capital, I'm just interested to know more as I am sure other people are too.

The Canny Saver

I am sure that's the case. However I think we also have to respect his decision not to provide any further details without badgering him.

CannySaver_2

browniej wrote: »

4 times from you and 3 times from another poster. Does that not seem a little over the top?



No you haven't but is that true throughout this thread?

I am sure that's the case. However I think we also have to respect his decision not to provide any further details without badgering him.

Maybe it is over the top, all down to perception I suppose, and if the perception is that is was over the top then I apologise to dunstonh. My desire to know where such a product exists which I could well be interested in for myself has clearly got the better of me. However, it is not in the pursuit of free advice, just simple curiosity.....5% irrespective of what happens to the capital would interest most people!

The Canny Saver

browniej

CannySaver wrote: »

However, it is not in the pursuit of free advice, just simple curiosity.....5% irrespective of what happens to the capital would interest most people!

The Canny Saver

I would be interested too as that is what brought me to this thread.

I shall now need to use google to see what I can find out for free, before heading off in the direction of an IFA to see what is suitable for me.

However thanks to Dunstonh for opening up my eyes to some other possibilities.

zygurat789

browniej wrote: »

I would be interested too as that is what brought me to this thread.

I shall now need to use google to see what I can find out for free, before heading off in the direction of an IFA to see what is suitable for me.

However thanks to Dunstonh for opening up my eyes to some other possibilities.

Are you going to come back and tell everyone else?

browniej

zygurat789 wrote: »

Are you going to come back and tell everyone else?

My free Google search revealed;

http://www.metlife.co.uk/uk/Documents/ILB/Sales_Aids/incomeforlifesalesaid.pdf

No idea whether this fits or not.

As to my visit with an IFA - do you want to pay towards the fee?

brianrhill

CannySaver wrote: »

An IFA is not likely to charge you for an initial consultation, do make sure that they do a thorough job and look at all the options for you as well as PLAs.The Canny Saver

Canny Saver - are you suggesting with this post that an IFA should do all the legwork without some form of remuneration? Isn't that a bit like asking an architect to provide all of the drawings for a new home with no guarantee of getting paid for it?

CannySaver_2

brianrhill wrote: »

Canny Saver - are you suggesting with this post that an IFA should do all the legwork without some form of remuneration? Isn't that a bit like asking an architect to provide all of the drawings for a new home with no guarantee of getting paid for it?

No, not suggesting that at all, what I am saying is that most IFAs should and probably will do the initial meeting / consultation without charging a fee (as most architects would do). At that meeting I would expect to discuss my requirements in broad terms, the IFAs expertise and spend some time getting to know each other. I would also expect to find out how the IFA charges and assuming we get on and I am confident about their expertise I can then make a decision whether I want to engage them in working for me, for which I would expect to pay a fee.

Paying a fee should guarantee the impartiality of the IFA and the independence of the advice, whereas if they work contingently on selling me a product e.g. a Met Life product as per another thread, there is the risk that the need to make a commission could skew the advice I am being given.

The Canny Saver

brianrhill

CannySaver wrote: »

No, not suggesting that at all, what I am saying is that most IFAs should and probably will do the initial meeting / consultation without charging a fee (as most architects would do). At that meeting I would expect to discuss my requirements in broad terms, the IFAs expertise and spend some time getting to know each other. I would also expect to find out how the IFA charges and assuming we get on and I am confident about their expertise I can then make a decision whether I want to engage them in working for me, for which I would expect to pay a fee.

Paying a fee should guarantee the impartiality of the IFA and the independence of the advice, whereas if they work contingently on selling me a product e.g. a Met Life product as per another thread, there is the risk that the need to make a commission could skew the advice I am being given.

The Canny Saver

Totally agreed :T. Thanks for the clarification.