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Pension/Advisor
maljo
Posts: 26 Forumite
My wife is due to get a pension in July when she is 58.We have been talking to Scottish widows asking a few questions but then a financial advisor phoned us up about this pension and asked questions about our circumstances (savings etc).
We have arranged a meeting with this advisor but will we have to pay anything even though he is from SW?
We have arranged a meeting with this advisor but will we have to pay anything even though he is from SW?
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Comments
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We have arranged a meeting with this advisor but will we have to pay anything even though he is from SW?
They are not allowed to charge anything until they have laid out their terms with you so the first meeting will be free.
However I would seriously advise seeing an IFA rather than a tied adviser from SW.0 -
can't emphasise it too much - you need an *INDEPENDENT* FA, not a tied one with vested interests (whatever the latter may say, don't believe him). And don't sign anything !The questions that get the best answers are the questions that give most detail....0
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Ok thanks jem16 and mgdavid for your advice.0
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maljo,
you can see several advisers for their interpretation of what they think you should do. Give them all the same information and then see if they are all the same, or differ. Do not decide quickly, take your time before agreeing to go with anyone, it costs you nothing but a little time. Good luck
SamI'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.0 -
An IFA can walk all over scottish widows sales reps from the bank. I'm afraid SW just dont have many viable products at thei moment and the funds that banks use are pretty dire. Designed more to protect their backsides than to offer quality. The same funds are available via an IFA but you wont see many using them.
Shame as the brand has gone downhill in recent years.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 -
Thanks Sam and Dunstonh for info.Is it possible to give any indication as to what the FA may try to get us to do?0
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Is it possible to give any indication as to what the FA may try to get us to do?
As the banks employ sales reps then its pretty much an attempt to sell you a commission based product.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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