Husband new pension-st James Place

louloubelle79

Hi
My husband is having another appt tomorrow to set up personal pension with FA, can anyone advise re St James Place pensions as I haven't heard of them. Asking hubby to find out if FA has fees and how much. He has Ltd company, he only employee.
Many thanks

Seabee42

Well I personally would go to an independent financial advisor. St James' Place is not that he is going to a salesman and should be called such (calling them advisors should be a breach of law).


As a business St James' place is doing very well indeed their charges are extremely profitable for themselves.

louloubelle79

Seabee42 wrote: »

Well I personally would go to an independent financial advisor. St James' Place is not that he is going to a salesman and should be called such (calling them advisors should be a breach of law).


As a business St James' place is doing very well indeed their charges are extremely profitable for themselves.

Thank you I will speak to him and will hold fire I think. Maybe until we set one up he should open a LISA for time being.

OldMusicGuy

I would suggest you look around before committing. St James Place has a reputation for targeting high net worth individuals with a very sales-led approach. The advice may be ok but again it has a reputation for being expensive and you can only choose from their products.

Just type "SJP" into the search function on this forum and you will get some threads that discuss them.

xylophone

https://directory.moneyadviceservice.org.uk/en

He might wish to wait before committing himself to SJP and find an independent Financial Adviser with whom to discuss the matter.

https://www.pensionbee.com/pensions-explained/pension-contributions/contributing-to-your-pension-from-your-limited-company?ast=p8mMlb may be worth a read for information.

https://www.taxcafe.co.uk/pensionmagic.html may be worth buying and reading.

atush

Do a search here on the forum.

Not independant, and one of the most expensive and inflexible providers out there.

I'd run a mile in any other direction.

How did he come to choose the firm?

louloubelle79

Thank you you have been a great help. Any info re pensionbee as new provider I understand?

Malthusian

PensionBee provide a limited range of non-advised investment options at a reasonable-ish price. If you don't want advice, and you just want a simple solution that works and aren't fussed about charges, they'll do the job.

However, a multi-asset index-tracking fund (e.g. L&G or Vanguard) held via a platform will do the same job for less money.

louloubelle79

Malthusian wrote: »

PensionBee provide a limited range of non-advised investment options at a reasonable-ish price. If you don't want advice, and you just want a simple solution that works and aren't fussed about charges, they'll do the job.

However, a multi-asset index-tracking fund (e.g. L&G or Vanguard) held via a platform will do the same job for less money.

Thank you, can you advise what is Vanguard please? Is it H&L?

louloubelle79

Looking at Cavendish, L&G, AJ Bell, H&L and Prudential but not sure where to go....

AlanP_2

louloubelle79 wrote: »

Thank you, can you advise what is Vanguard please? Is it H&L?

H&L is a platform like Cavendish that holds the funds you invest in on your behalf in a pension, ISA, or outside any tax wrapper.

Vanguard is a fund house that offers lots of funds that can be held on a platform. It is the largest in the world I think, or maybe 2nd.