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IFA charges reasonable?
nobby2012
Posts: 14 Forumite
Just in the process of sorting my pension and funds moved by a IFA. There is a £106k pot. I am being charged by the IFA 2% of the lump sum and the new £350 per month for the first year, plus an ongoing fee of 0.75% (including the first year). Then there is the SIPP charge.
Does this sound reasonable?
Does this sound reasonable?
0
Comments
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Well the SIPP charge isn't for the IFA so it's not really fair to include those costs. I would have hoped the IFA has found a low cost pension for you?
2% is a good, low cost. But i'm not sure what's meant by an additional £350 per month?
The 0.75% ongoing management fee is about the norm, just make sure they're actually doing something for that money.0 -
The £350.00 per month mentioned is the new monthly contribution I will make.
Pension is in SEI Balanced Fund via James Hey.0
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