Old Mutual Collective Retirement

Alonso01

Following a recommendation from an IFA in April 2016 my three pensions were consolidated into the Old Mutual Wealth Collective Retirement Account. At that time the total pot was £290,000,and it grew to £325,000 by December 2017. Since then it has gone down to £298,000 and continues to decrease, although the IFA does of course continue to receive a commission. In summary after almost 3 years the fund has not grown.
I am not really an investor so I am looking for options to move the pot elsewhere, hopefully with a better managed and better performing company. Any recommendations? Do I have other options?

dunstonh

Since then it has gone down to £298,000 and continues to decrease,

Whilst you would fully expect a decrease between October 2018 and December 2018, it should have recovered mostly by now.

So, the fact you are saying it is still decreasing suggests an issue.

Or are you perhaps working on out-of-date information (a lot of March issued statements are to the end of December 2018).

although the IFA does of course continue to receive a commission.

That is not possible. Commission has been banned on new business arranged after December 2012.

In summary after almost 3 years the fund has not grown.

An economic cycle is around 10 years. You have been in just 3 years. Included in that period was a 16% loss period. In that 10 year period, you will have positive years, negative years and years where things are basically unchanged. You average them out over the long term. Not the short term.

am not really an investor so I am looking for options to move the pot elsewhere

What will moving it elsewhere achieve? OMW, whilst not whole of market, has all the major funds.

hopefully with a better managed and better performing company.

What makes you think your current one is not good enough?

Any recommendations? Do I have other options?

What does your IFA say when you ask them this?

JoeCrystal

Alonso01 wrote: »

Since then it has gone down to £298,000 and continues to decrease, although the IFA does of course continue to receive a commission. In summary after almost 3 years the fund has not grown.
I am not really an investor so I am looking for options to move the pot elsewhere, hopefully with a better managed and better performing company. Any recommendations? Do I have other options?

I am assuming you mean the annual ongoing servicing fees rather than commission. Ask your IFA about it, that is what you are paying the IFA for after all.