Secretive pension providers

jem16

gadgetmind wrote: »

I had to look that up, and what I saw scared me. Are you really sure you want to DIY this?

Agreed - could be fraught with problems.

I only hope it's not the NHS pension you are considering putting into a SIPP.

xylophone

If you are thinking of transferring out of a final salary/defined benefits scheme you're going to need an IFA to sign off the transfer?

srcandas

I'd just like to say that the patience of our resident IFAs amazes me.

As many know I'm not a supporter of IFAs or the industry around them but credit where credit is due :beer:

As for the antes please try and do some research guys before launching forth with erroneous and spurious posts.

If you really believe as I do that faster change is needed then comparing IFAs to estate agents just isn't going to cut the mustard.

If on the otherhand you're just frustrated by your lack of knowledge and don't have time to do any research you'll find politely placed questions here will lead to enlightenment at no cost

ps never thought I'd say this but in the last 10 years I have used two estate agents who came recommended and did a great job. As Jem says there are good and bad in every walk of life

gadgetmind

srcandas wrote: »

I'd just like to say that the patience of our resident IFAs amazes me.

We do have a few drift in and then drift out again. Those that stay have both a wealth of knowledge and the skin of a pachyderm . Hats off.

If on the otherhand you're just frustrated by your lack of knowledge and don't have time to do any research you'll find politely placed questions here will lead to enlightenment at no cost

I also sensed more than a little frustration. IMO the only solution is to gain a lot of knowledge in a hurry. Either you gain enough to DIY or enough to make good use of a professional.

Ignorance is rarely bliss. Far from it.

jem16

gadgetmind wrote: »

Those that stay have both a wealth of knowledge and the skin of a pachyderm .

Had to look up pachyderm. Let's hope Dunstonh doesn't become as obsolete as some of the animals to which it refers. :eek:

Luscombe_2

Perhaps before anyone criticises Abletwo for 'not doing her research' before she posted on here maybe they should look at her original post.
Abletwo had TRIED to collate information from pension providers so that she could evaluate the potions available and try to make an informed decision. She says that she was met with a refusal to supply information from all but one provider. In essence Abletwo posted on here because the pensions companies were preventing her from researching the facts! (unless she paid a big fee to a IFA of course). I know this is true because I have gone through a similar process myself and met with a similar response.
It is a natural reaction to kick back against any organisation that tries to force or coerce you down a path of their choosing. Is it any wonder that Abletwo feels distrustful of FA's?
Given the fiasco over endowment mortgages (I notice the FA's have conveniently ignored this point) and the current financial hardships caused by the greed and excesses of the banking and financial industry it is natural that people have a desire to try to sort out their own financial affairs.

Abeltwo

thank you Luscombe.
It comes back to, I wish to gather information to make an informed decision. Who knows, it may even be to consult an IFA. What I find unconcionable arrogance is the closing of ranks so that Joe, (or Joanna), public are simply unable to gain access to the information to make any decision at all. I call anyone a fool who simply hands over hundreds of thousands of pounds on the advice of someone, without trying to do a little research on their own behalf.
Well I now have some information to begin the search, and for the record, of course I wont be cashing in my lovely NHS pension. That would be the act of a fool.

jem16

Luscombe wrote: »

I know this is true because I have gone through a similar process myself and met with a similar response.

New poster, only joined today. Just happens to have a similar process, a similar problem, just happens to find this thread and feels a great need to back the OP.

Forgive my scepticism but .......

Luscombe_2

To answer this just let me say I have been looking on this site for months hoping to see an answer to my problem. Abletwo's post struck a chord and made me realise that I wasn't on my own (as the pension providors and FA's would have me believe). This gave me the incentive to post today.
I am a pilot and there is a similar forum for aviation minded people. Unfortunately like most forums 5% of the members post 95% of the posts and the forum soon became like an old boys club. I'm sure most of the frquent posters on the aviation forum felt they had to post so frequently because they knew everything possible to know about aeroplanes. The other 95% of the forum members just feel they are opinionated!

mgdavid

Abeltwo wrote: »

.....
Dunstonh, why have you assumed I am male? I am actually a petite blonde female, they do allow us to have degrees and careers now. Some of us know about things other than embroidery and kittens

Ha!
thought you might be of the other persuasion - the giveaway was the lack of logic.