Annuity and IFA advice needed

bmm78

There's a lot to factor in before saying one way or the other whether the charge is "too high".

If the IFA is just processing an enhanced annuity application with very little actual "advice", it does seem high.

If it's a proper specialist advised service looking at the full range of options from annuity to drawdown and everything in between, this is something that requires significant time and expertise.

Post RDR everything has to be transparent and upfront, and the adviser should be able to fully explain WHY he feels he is worth that charge, and what value he is adding that you wouldn't get elsewhere for cheaper. His answer to that line of questioning should give you a better idea of whether or not he is earning that money.