Local IFA near Sandbach, Cheshire - same story ?

greatkingrat

Do you know roughly the total value of all the pensions together? If they are all fairly small, you may find that IFAs are not interested in the work, or the amount they would charge would be too high as a percentage of the portfolio.

MarkCarnage

bostonerimus wrote: »

Pensions are not the best place to take money for one time expenses. You'll pay tax and lose tax free compounding.

Might be his only choice....
Also, could move one or more pots into drawdown, take tax free lump sum and not draw down any income until needed?

smallzoo2

I wish I was wealthy enough to take the money from somewhere else but since I gave up my full time jon to care for my mum we just earn enough to pay the bills and have no savings other than the house..

Marcon

You can search the FCA register using your postcode, which will show local IFAs: https://register.fca.org.uk/

The problem with picking a financial adviser is that it can be many years before the chickens come home to roost and until then it may be impossible to know whether the advice you received was good, bad or indifferent. With mechanics and builders etc any defective work often shows up pretty quickly!

Good, clear article on why combining pensions isn't always a good idea: https://www.theguardian.com/money/2019/aug/31/pensions-five-reasons-to-think-twice-before-putting-it-all-in-one-pot

smallzoo2

Thanks a lot again for the advice so far