Pension review?

PhilipT

Hi I wondered if anyone has heard of Sun Money Ltd who offer to "review" your pensions at no cost to you! Is it genuine? Any thoughts please.

Linton

Surely your local IFA would do the same thing. This would have the advantage that you would be able to discuss your detailed needs and circumstances with them face-to-face, an option that is presumably not available from Sun Money.

Of course, I would expect the purpose of any "free" service from a local IFA or Sun Money to be an introduction to them providing further services and so to be limited in detail and scope.

dunstonh

Any IFA can review your pension. Be wary of cold calling companies. No genuine investment firm regulated by the FSA will cold call. Most cold calls on pensions are scams.

I have just checked the FSA register using the details on Sun Money's website (tried by post code, then by name and no matches) and they are not regulated by the FSA. So, this would indicate that they are not authorised under UK law to offer a review of your pension.

Companies house show that Sun Money only became incorporated in April this year.

So, you have a new company offering a service that is in breach of UK law (no FSA authorisation) offering to do something for nothing despite their website indicating they will tell you to switch pension. Sounds dodgy.

At best it is a sales pitch by a non-regulated company hoping to obtain your details to sell on to a regulated firm to share commission on a sale of a replacement pension. At worst it is a scam.

PhilipT

I hate answering the phone as I am so easily sold a line. However I have learnt to look before I jump! This did not feel right.

bennybean

Philip.
"DON'T DO IT MATE" Sun money and thier employees don't seem to know what they are doing and don't let you know anything about how your "Review" is going.

"I BELIEVE THEY ARE TRYING TO REINVEST PEOPLES MONEY BUT SKIMMING OFF THE TOP"

:mad::mad::mad::mad::mad:

BE VERY CAREFUL WHAT YOU ASK THEM FOR.....