MyWealth/Wealth at Work

LULULU1

Hi all,

I just wondered if anybody has any experience of attending retirement seminars or financial planning seminars. I have seen a company called Later Life who offer a 1 and 2 day seminar including financial planning.

just wondered if anybody has been to any such events or placed any value in them.

many thanks

dunstonh

Seminars are expensive to put on. They are marketing opportunities. They look to sign people up and typically, the charges of those firms are high.

To reflect the intention, the full company name is Later Life Asset Management Limited.

So, by all means go but remember the purpose

Alexland

Risk is they spend the whole time pushing their viewpoint and putting you under hard sell tactics to signup to something and you leave having learnt nothing. Most of the knowledge you need to know is freely available anyway.

Alex

Brynsam

Seminar = sales opportunity. You might pick up one or two useful thoughts, but almost all will require helpful follow up on a paid-for basis to explore further.

If you decide to attend this sort of thing, set up a hotmail address and get a second SIM for your mobile - and give those as your contact info to ensure you can't be plagued afterwards.

tigerspill

I have been to many of these run by Wealth at Work. Our company arranges these.
While they may be sales opportunities, this is not made obvious.
The knew a huge amount about our specific pension and that was helpful; and they helped understand many aspects about pensions and retirement (inc. SP).
Gave general advice such as using AVCs (our scheme is particularly good get in terms of taking TFLS).
All in all they were excellent.

crv1963

I went to a Pre-retirement Planning Course via work, we had a Financial Advisor come to it and talk to us. He wasn't pushy discussed in his presentation maximising retired income, making the pension last, looked at working in another role/ career and saving into other products- SIPP (we were all DB scheme members), ISAs, less common products like P2P were mentioned. Looked at a couple of case studies of other people who'd retired and not thought through survivor pension etc.


Nothing was pushed he ended his presentation giving us his business card, no further hard calls or selling.


Go in with your eyes open, listen, question and learn, be determined not to sign up for anything until you've had time to reflect. It might be interesting, I enjoyed and learnt at our course.

Alexland

An employer organised event is likely to be a lot more use than a sales seminar.

jamesperrett

A decent pre-retirement course is extremely useful. Usually these will be provided by employers but the people who ran the one that I attended also run courses open to the public. They weren't financial advisors although the main course tutor had been a financial advisor in the past and one of the guest tutors was a current financial advisor. Financial matters made up a fair proportion of the course but they were covering things like tax and NI as well as describing potential financial products. There was no selling involved although one or two points went against advice usually given here.

worlestone

My wife and I have also been to a course run by Wealth at Work (aka Mywealth) as I have been in a LGPS and she's NHS, but they are open to anyone and publish dates on their website. We found the course very helpful, more so than the pension wise session. Have had a follow up meeting, and we will probably use their IFA services. They've never been pushy, we've not paid anything (yet), but investing with them will cost, but I'm expecting good IFA advice across all our financial needs and several DB (LGPS/NHS) and DC pensions to help take early retirement.

PeacefulWaters

worlestone wrote: »

My wife and I have also been to a course run by Wealth at Work (aka Mywealth) as I have been in a LGPS and she's NHS, but they are open to anyone and publish dates on their website. We found the course very helpful, more so than the pension wise session. Have had a follow up meeting, and we will probably use their IFA services. They've never been pushy, we've not paid anything (yet), but investing with them will cost, but I'm expecting good IFA advice across all our financial needs and several DB (LGPS/NHS) and DC pensions to help take early retirement.

Are they an IFA or just an FA?

worlestone

Has anyone had any dealings with MyWealth? I've had a meeting with one of their advisers to discuss retirement plans, this is out first venture (wife and I) into considering retirement. I just wondered whether their fee structure was usual for an IFA; 2% first £100,000, 1% next £200,000 and 0.5% over that for initial consultation (after a 'free' session), plus 0.45% for fund manager if we opt for a SIPP. I was supprised that the fees would be @ £8000 per year.

I have no idea what's normal, just trying to understand.

Thank you