Sipp - To use or not to use an IFA

bostonerimus

Apodemus wrote: »

Bostonerimus, while I agree with you in principle, in practice it is quite easy to find yourself with a complex structure that an IFA might be best-placed to resolve.

Taxation and the structuring of accounts can be complicated and so for that I can see the utility of an IFA if it all gets a bit too complicated.

It's all too easy to collect accounts over the years, so an effort to rationalise if useful. Myself I have money in 3 platforms and a couple of bank accounts with differing withdrawal rules and tax consequences, but I have simplified where possible and frankly I basically ignore my investments and retirement pot for 99% of the year and only have to do anything at tax time.

atush

davidwatts wrote: »

Do you mean £20k or have you missed a zero off?

i meant what i said. And I said North. once you are up to triple digits you should look at using an IFA but you can do it before. it just isnt cost effective with low amounts for you or the IFA.