We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
IFA home visit re Pension/ISA
Comments
-
I'd stick where I am and increase my contributions. I believe, at £50k there are some options available with lower charges. At that point, see an IFA again.
I may be wrong here though - I've no real reason to look at fees because my employer scheme only charges 0.3% PA but I think I read posts stating the above on MSE.0 -
feesarefare wrote: »Ill tell the editor to do a better job! I thought the 4 page analysis of the business told the full story.
Ok I haven't read it.The article they (new model adviser) did on my business was accurate.
Good. I'm glad to hear it.0 -
Rebalancing to original allocation requires very little admin and no communication or agreement from client. Rebalancing to a new sector allocation requires communication with client and agreement to proceed.
I wouldnt take on a small case on servicing basis as its pointless for all concerned. I would however check costs and if necessary recommend something on the basis of the analysis and outcome of comparison. I do a lot of pension transfers and 9 out of 9 cases I review can be improved upon in cost. So, I would have no problem giving advice in that case as the advice has given value.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 -
feesarefare wrote: »That's because it ain't rebalancing ! :-)
in your opinion.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 -
feesarefare wrote: »No I think you'll find it's what the word means.
in your opinion. They both involve rebalancing the portfolio. One in line to the original allocation. The other in line with the latest allocations.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 -
feesarefare wrote: »but wouldn't require a new suitability/ research
And both can be done automatically and free on skandias platform?
Both cannot be done automatically and free on Skandias platform. Only back to original allocation can be done automatically with Skandia. As you say, if new allocations are used, this needs communication and agreement. So, cannot be automatic.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 -
Both cannot be done automatically and free on Skandias platform.
I used to have some holdings on the Skandia platform and I won't argue either way with the automatic bit, but it was all a long long way from being free.
I reckon my fees and now 1/3rd what they were with Skandia and I wish I'd woken up and moved things much much earlier.
Ah well.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
I believe the comment meant that the rebalancing service on Skandia costs nothing more on top of what they already charge investors. As I understand it, it's an option which adds no marginal cost to someone already using the platform.gadgetmind wrote: »I used to have some holdings on the Skandia platform and I won't argue either way with the automatic bit, but it was all a long long way from being free.
I reckon my fees and now 1/3rd what they were with Skandia and I wish I'd woken up and moved things much much earlier.
Ah well.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Confusion for the OP or jimjames?
I agree - it may not have been done which is why I brought it up for the OP to be aware of.
That's the same reason I mentioned it.
So far all the details given are pretty confused. Even down to charges that are 10x lower than they should be which makes the whole situation difficult to comment on meaningfully.Remember the saying: if it looks too good to be true it almost certainly is.0 -
it's an option which adds no marginal cost to someone already using the platform.
In the same way that BMW dealers don't charge you for the coffee nor the smoked glass nor the chrome.
There's no such thing as a free lunch.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards