Retirement Solutions Ltd

derek_hayday

Does anyone have any experiences with Retirement Solution Ltd?
They seem quite professional over the phone and are registered with the FCA.
My plan is to retire in April 2019 and am looking at Flexible Drawdown options.
Many thanks

Seabee42

Try to stick to independent advisors, tied agents i.e. salesman are also registered at the FCA but their primary goal is selling their own stuff.

AnotherJoe

What is it they would do that you cant?

campbell19925

derek_hayday wrote: »

Does anyone have any experiences with Retirement Solution Ltd?
They seem quite professional over the phone and are registered with the FCA.
My plan is to retire in April 2019 and am looking at Flexible Drawdown options.
Many thanks

Hi Derek, check the fees and ongoing AMC (Annual management charge). Something standard would be 2% fee to move pension to a more suitable product and 0.5% as an ongoing management charge.

Also check if they are restricted or independent in terms of the advice they can give. You want a whole market advisory service (independent) - a company which is not tied to a particular provider or product.

dunstonh

Never heard of them. I doubt many have as they are a typical medium-sized firm.

However, from their website, it appears that they are not IFAs but restricted FAs and I would have concerns about them only being limited to annuities, drawdown and equity release. In very many drawdown cases, we use ISAs and unwrapped as part of the planning. So, a restricted firm without these cannot give "best" advice. They are can only give advice from what they have available.

The general rule of thumb is to either DIY or use an IFA. All others should be eliminated.