Do I REALLY need a financial adviser before I consolidate my pension?

robmatic

FatherAbraham wrote: »

You're oversimplifying things.

Pension-transfer mismanagement has serious consequences for the beneficiary, and therefore for any professionals involved, who can be punished by the regulator, and required to pay large sums of compensation.

Evaluating pensions is specialist business (large risks, expert knowledge needed, due dilligence etc), which is why providers like AEGON keep away from the high costs of dealing directly with the public.

To put it another way: you thought it would be akin to transferring a simple bank account, but it wasn't. Doesn't that tell you that it probably isn't as simple as you thought?

Warmest regards.
FA

What should be the cost if no advice is sought or taken?

Arranging a transfer is a fairly simple administrative process; in this case access is restricted due to AEGON's business model, not because it's complicated.

jem16

robmatic wrote: »

Arranging a transfer is a fairly simple administrative process;

Arranging it might be simple but judging whether or not it's correct to do so isn't always simple.