IFA Quote for Drawdown

Daniel54

Nosler wrote: »

I just wish I had a job where I could do some work then get paid for it decades later


I believe the person that sold me the product got his initial commission then a nice little bonus each year afterwards.

You are highjacking this thread.This is poor forum courtesy.

If you wish to discuss your past experience with IFAs.rather than contribute to the questions raised by the OP,I suggest you start your own thread accordingly

dunstonh

I just wish I had a job where I could do some work then get paid for it decades later

Instead of being paid for it at the time of doing it. does your job say that they that they are not going to pay you for work this year but will pay you over the next 15 or so years instead but also that you risk not getting anything? There is no cost difference to you. The adviser had a choice to take it all upfront, all ongoing with nothing up front or a bit of both. The ongoing carried risks that the contract may not have gone the difference and advisers were more likely to give ongoing servicing. With upfront they got their money on day one, no risk and no need to worry about ongoing servicing.

I believe the person that sold me the product got his initial commission then a nice little bonus each year afterwards.

Not likely on a pension contract from 14 years ago (unless they sacrificed some rather than all the initial for a lower ongoing). It was all mono charge back then and what you describe does not fit with reality.

atush

Nosler wrote: »

excellent, so I think we've all agreed that 2.75% per annum to manage £300k is "too high".


I can only hope the OP either DIYs or finds an IFA that is less of a charlatan.

So you wont take back your accusations and castigations of ALL IFAs then? Hopefully, the OP will put aside advice from those with an axe to grind in their hands.

Nosler

atush wrote: »

So you wont take back your accusations and castigations of ALL IFAs then? Hopefully, the OP will put aside advice from those with an axe to grind in their hands.

No I'm not going to take it back. Because I never made the accusations that you are accusing me of making.


For the record I think some IFAs will be very good, but some will be terrible.

addedvaluebob

dunstonh wrote: »

The FCA have muddied the waters between trail and renewal commission. For example, renewal commission has no sunset clause. However, trail commission does. Sometimes they refer to trail commission as all types of ongoing. Sometimes they refer to it only in the context of UT/OEICS which was the major type of fund that paid trail commission whereas most life and pension funds did not.

Oh, I see now, the FCA have got it wrong because they don't know what trail commission is, and yet the financial press is littered with recent trail commission stories. I would let Paul Lewis and the Telegraph know only they don't know what they are talking about either when they criticise financial adviser's.

Please note the words 'advisers’ trail commission where clients’ pension plans have been “inactive” for three years or more, Money Marketing' This was reported in the financial press, is everybody wrong about trail commission and how consumers have been paying for nothing?

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&cad=rja&uact=8&ved=0CDEQFjAD&url=http%3A%2F%2Firidiumfs.co.uk%2Fdont-get-caught-aegon-turns-trail-commission-inactive-client-accounts&ei=KlB3VPadMsXBPJ-ngNgF&usg=AFQjCNHeD33YNd6lvE15B8wI6Grn_cY2mQ

dunstonh

I would let Paul Lewis and the Telegraph know only they don't know what they are talking about either when they criticise financial adviser's.

Paul Lewis is a low knowledge mouthpiece. The Telegraph is also prone to making mistakes.

Please note the words 'advisers’ trail commission where clients’ pension plans have been “inactive” for three years or more, Money Marketing' This was reported in the financial press, is everybody wrong about trail commission and how consumers have been paying for nothing?

You are getting boring now. Just admit you dont know the subject and like trolling instead.

zagfles

dunstonh wrote: »

Paul Lewis is a low knowledge mouthpiece. The Telegraph is also prone to making mistakes.

As are IFAs. Particularly on this board

You are getting boring now. Just admit you dont know the subject and like trolling instead.

He knows as much about trail commission as you know about HL's charges :rotfl:

dunstonh

Thanks to everybody for their thoughts and it seems I may have opened a small can of worms!

Not really. Unfortunately, you just get some people who like to have a go. They are not interested in the facts or helping but just prefer to belittle those that do.

addedvaluebob

dunstonh wrote: »

Paul Lewis is a low knowledge mouthpiece. The Telegraph is also prone to making mistakes.

You are getting boring now. Just admit you dont know the subject and like trolling instead.

I'll be sure to let Paul Lewis know.

Which part of the Money Marketing (trade paper for financial advisers) is also wrong about the existence of trail. I am no troll but the mis-information on here needs challenging.

I am afraid you either do not understand the financial products from the 1980's onward or you listen too much to the network propaganda put out by your marketing team and repeat it on here to members of the public

Your_Hero

addedvaluebob wrote: »

I'll be sure to let Paul Lewis know.

Which part of the Money Marketing (trade paper for financial advisers) is also wrong about the existence of trail. I am no troll but the mis-information on here needs challenging.

I am afraid you either do not understand the financial products from the 1980's onward or you listen too much to the network propaganda put out by your marketing team and repeat it on here to members of the public

I think we all know your agenda here.

Must be tough walking around with a chip on your shoulder the whole time and bashing IFAs online, as evident in every post of yours.

Same with zagfles - he has a dig every time he gets half a chance. Well done. :T I'm sure this will give you extreme satisfaction. Now, move on.