Drawdown with HL.

bostonerimus

dunstonh wrote: »

You miss the point. Platform charges are not linked to advice. Why would an IFA use HL when they can get better value?

I was not endorsing HL's fee schedule. Everyone should look for the best deal on platform fees! I was pointing out that the IFA has an obvious interest in getting the OP to move the money so the IFA can manage it or get some sub-contractor to do that. That might end up being a good deal for the OP, but it might not......it will obviously involve fees and the OP would be wise to compare the size of those fees to how much he/she currently pays at HL and whether they will really give any added value. He /she could also look for a lower cost DIY option.

bostonerimus

lisyloo wrote: »

I've had the same IFA for a long time. Whilst most of us don't work for free (so why should they), my IFA is interested in long term relationships. Sometimes I get advise for free, other years I pay 0.5% and get nothing. I'm happy with that.

Unles one knows everything there is to know about state, private, investments, LTA, drawdown, annuities, then I'd have thought this was one of those times when good advice was worth it's weight in gold.
I would think it's quite hard for a lay person to think of everything.

I will be getting advice but because my advisor gets a regular 0.5% they won't charge for it as it's part of the service.

If people feel that they need advice and that they get good service then that's fine, but it doesn't need to be all that complicated and I can't see much reason for most people to need ongoing advice at 0.5% per year. That's around 15% of a sensible drawdown amount and I certainly would begrudge that so I don't spend it.

pointdexter

Thanks for all posters replies, our isas and sipps are mainly IT's and passives. It is the "nuts and bolts" i need help with going forward with Drawdown. Cheers Pointdexter