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Advisors and pension dompanies
Comments
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I agree, and most of my recurring income is linked to FUM to a small degree. At the same time, there's no way I could reduce my fee to £500 just to try to secure FUM.Good_bad_and_ugly wrote: »Aegis,
It's all down to the marketing proposition, the buy in, the route to market, the brand. I agree, FuM is dodgy, but it gives power back to the consumer and it makes the IFA work hard to fullfil his/her part of the deal. That's not a bad thing! :beer:I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
I have read a lot of twaddle about costs here, usually from IFAs. A perfectly good IFA should be able to review and if need be, switch a pension for a fixed fed of £500
And woudnt stay in business very long.Phil, I did see if I could look back historically as it would be interesting to see how this RL fund performed over the past 10 years.
Its not a fund. Its a collection of funds.
Are they absolutely sure there is not a transfer penalty. All Abbey life pensions are closed. However, its rare for them not to have a transfer peanlty.With the Abbey there is no transfer out fee. its a closed pension and they seem very happy to see the back of it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Dunholm is right about the final point - I'd check whether or not there is a redemption penalty.
In respect of the second, he's splitting hairs.
As for the first, I'd point out the number of big charging IFA companies which have gone to the wall. Efficiency and service are key.0 -
And woudnt stay in business very long.
Its not a fund. Its a collection of funds.
Are they absolutely sure there is not a transfer penalty. All Abbey life pensions are closed. However, its rare for them not to have a transfer peanlty.
Figure of speech, yes I am aware it's a basket. Yes they have stated no transfer out fee. The IFA commented they seem to be happy to loose the business.0 -
Abbey Life is costly, no company is happy to lose any business. My bu11541t detector has just had its dylithium crystals light up.0
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Hmm, think I will be calling them tomorrow to confirm.0
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Get it in writing.
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Not all abbey life plans have transfer penalties attached as previously mentioned my dad recently moved his without penalty0
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