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How Do I find a Pension Adviser I Can Trust?
loveandlight
Posts: 1,200 Forumite
I need some advice regarding some small pensions I have as I want to set up a company SSAS and put them all in. (I have my own company). I've not had a good experience with about three IFA's I have spoken to so far.
One of them (IFA's that is) doesn't believe my marriage will last when I told him I have been happily married for 28 years as he told me everyone goes through a divorce at least once in their lives. He is apparently one of the top 10 IFA's in my area.
The second IFA told me he decides what I do with my pensions not me. he also turned up half an hour late to the meeting and said he only had one pair of shoes and had to get them out of the repair shop first so he had something to wear to come and meet me.
The third one I liked but he told me it would take 9 months for HMRC to agree to transfer my pensions into a SSAS but I spoke to someone else and they said that's not true. His business partner told me I should just take the money and run so that's put me off using them at all.
How can I find a reputable company I can trust or is it a case of speaking to loads of them until I find one I have a good experience with and feel I can trust?
Or is there a better way of me putting my pension into a company SSAS and doing it all myself? Apparently Rowanmoor are one of the popular SSAS companies but they say I need to go through an accountant or IFA first to use them. I don't have an accountant as yet as I'm having to change mine. Thanks for any replies.
One of them (IFA's that is) doesn't believe my marriage will last when I told him I have been happily married for 28 years as he told me everyone goes through a divorce at least once in their lives. He is apparently one of the top 10 IFA's in my area.
The second IFA told me he decides what I do with my pensions not me. he also turned up half an hour late to the meeting and said he only had one pair of shoes and had to get them out of the repair shop first so he had something to wear to come and meet me.
The third one I liked but he told me it would take 9 months for HMRC to agree to transfer my pensions into a SSAS but I spoke to someone else and they said that's not true. His business partner told me I should just take the money and run so that's put me off using them at all.
How can I find a reputable company I can trust or is it a case of speaking to loads of them until I find one I have a good experience with and feel I can trust?
Or is there a better way of me putting my pension into a company SSAS and doing it all myself? Apparently Rowanmoor are one of the popular SSAS companies but they say I need to go through an accountant or IFA first to use them. I don't have an accountant as yet as I'm having to change mine. Thanks for any replies.
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Comments
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Those IFAs all sound well dodgy, unbiased may help.
No doubt the IFAs that post regularly on here will be along soon to reassure you that good and honest IFAs can be found, good luck, fj0 -
No doubt the IFAs that post regularly on here will be along soon to reassure you that good and honest IFAs can be found, good luck, fj
They can. However, a transaction like this is a bit specialist/niche. So, it will take more calling around.
A couple of them sound like real knobs.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 -
As has already been mentioned, the Unbiased website is a good place to start. Until we had to find an IFA, I would have said personal rcommendation would be the way to go; unfortunately the IFAs we "interviewed" as recommended by friends fell far short of the mark, attempting to base their charges on a percentage of our funds, rather than a set fee. One of them would have relieved us of £30k just for initial advice. :eek:
We finally opted for a Chartered IFA who "tells it like it is", has a clear fee structure, and most importantly certainly knows his onions.0 -
DancingBadger wrote: »....most importantly certainly knows his onions.
Personally I'd be wary. Onions can be a risky investment.
http://www.firstpost.com/investing/onion-or-stocks-many-bse-stocks-are-cheaper-than-onions-1046007.html
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Personally I'd be wary. Onions can be a risky investment.
http://www.firstpost.com/investing/onion-or-stocks-many-bse-stocks-are-cheaper-than-onions-1046007.html
I'm shorting onions currently.
Need to be careful or its out of the frying pan and into the fire.
Just don't shed any tears if things go wrong.0
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