Fee for Pension consolidation

dunstonh

But the IFA would still be wanting 5% up front and 0.5% trail. Even HL want the trail, yet do shag all for it!

I read James post to indicate a different IFA. Not that one.

gadgetmind

dunstonh wrote: »

I read James post to indicate a different IFA. Not that one.

Maybe, but I was quoted 4% and 0.5% trail on £200k+ move, and ditto on a £45k lump sum, which is about when I decided it was high time to wise up and DIY.

Three quotes from builders is usually enough, but I think you need a few more from IFAs, and/or stronger negotiating skills.

jamesd

First exploit HL for what HL is good at, the customer service. Then either ask for a lower rate due to less work from the first IFA or, better, use a different IFA if IFA services are wanted. Else use a lower cost platform than HL longer term. The original IFA cost sounds like more than it's necessary to pay for the work.

HL does do aspects of service better than some. Like the ability to give fund trading instructions before 8AM and have them traded the same day for most funds.

You and I are comfortable selecting our own fund investments, if Pacamack isn't, like most people, no problem to use an IFA for that work. Whether six monthly or annual rebalancing and reviews is best depends to some extent on what's happening and to some extent on individual views about how frequently normal rebalancing should be done. It's not excessively frequent even for normal rebalancing but it is more frequent than some would choose.