We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!
IFA charges reasonable?
Options
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards