Advised to switch pensions again by advisor

JoeD89

nrsql wrote: »

Have you made use of the extra flexibility in the last year?
Do you expect to make use of the extra flexibility with the new provider in the near future?

If not then I would ask your IFA how this would benefit you.

No - admitadly, my pension pot (circa 52K) is not the largest of his clients. I am starting to make a much greater interest and expect to monitor fund performance myself, to enable possible changes to be made, if and when.

JoeD89

dunstonh wrote: »

It will be whatever you agree to pay them. There has been a lot of changes over the 18 months and contracts are cheaper. Personally, I am not moving anything from a year ago as the contracts available now are generally the same as then. However, I have been reviewing older ones on servicing clients and moving them where required. In those cases, I would charge the transactional clients an ad hoc fee to do the work but not charge the servicing clients as it falls under part of their servicing.

So, you need to ask what the charges are. The fact you dont know is a concern.



That is the default position as no commission exists.

Thank you for the good advice. The picture is probably clouded by the fact that the IFA is also a friend and I have always taken the advice to be sound previously and not questioned it.