Should I swap to Aviva PP from Standard Life PP

dunstonh

The FA is saying Standard Life only have a pool of 250 funds where as Aviva have 2500 funds to choose from

The count doesnt really matter. You are not going to invest in 250 or 2500 funds. The bit that matters is whether the provider has an offering that fits you.

Standard Life's platform offering has about 30,000 investment options. You are not on that though. Their old life and pensions offering has a couple of hundred. So, it depends on what you are comparing it against.

If you compare Aviva's platform to Standard Life's platform then SL is more expensive. So, it is pretty easy, when looking at cost, to select Aviva over SL.

he IFA is stating this lack of funds at SL is why I should move (at transfer cost and increased annual fees ) to Aviva as it has shown to perform better so should make the extra charges I'll be paying back many times over

The IFA will recommend what they feel is best based on what you have told them and an analysis of your situation. If you have told the IFA that your primary consideration is low cost then the adviser will work to that basis. If you have not said that then cost will not be the primary driver.

On the fund value you have, wtih Aviva's cheapest fund option, it comes out at 0.4% (fund and platform charge). So, if yours is coming out at 1.0% then it means you have not got the cheapest fund. So, ask the adviser why they feel that the fund(s) being recommended are better than the cheapest funds. Remember cheap is secondary to suitability. Cheap is not always best.