Confused family member

dunstonh

NEH wrote: »

Mum's spoken to Aviva and an Independent Financial Advisor over the phone and the enhanced rate isn't much better than the standard rate. It was less than £10 a month more so probably not worth seeing the Financial Advisor properly with his fee.......

Aviva say they'll seek all the commission from the company she chooses which I am a bit wary of anyone heard of this?

It means instead of chosing an IFA and the IFA getting paid for doing it, Aviva are going to get paid for it instead for offering a lower option.

£10pm for 20 years is £2400. Is it really not worth it?

atush

Go to unbiasd/co.uk and find a few IFAs neasr you. Call a few a talk to them. chosse one and have an innital consult.

NEH

dunstonh wrote: »

It means instead of chosing an IFA and the IFA getting paid for doing it, Aviva are going to get paid for it instead for offering a lower option.

£10pm for 20 years is £2400. Is it really not worth it?

Sorry what I meant was it's worth doing it through Aviva if she does get an extra £5 a month without any further deductions but what I meant was it wasn't worth seeing an IFA if it was going to be a £5 difference as that difference would have gone on the fees for the IFA. The IFA taking the commission from the company and from the client as well where as Aviva appear to only take the commission from the company.

Atush for the fees mentioned you wouldn't gain much be seeing an IFA as the difference was round about £5....

dunstonh

I'm surprised that the IFA hasnt been able to beat Aviva. Aviva on standard terms is quite normal but the likes of Just Retirement, Partnership or LV would normally come in better than Aviva on enhanced terms.

Also, the use of those companies would avoid an explicit fee being paid up as the IFA cost can be factored into the annuity rate. So, you usually find the IFA can be paid and the annuity rate is better.