Contingent Charging for DB transfers.........

AlanP_2

Albermarle said:

Prism said:

Joey_Soap said:

HappyHarry said:

Joey_Soap said:

Marcon said:

Joey_Soap said:

"Given the advantages of DB schemes, the proportion of consumers that advisers have advised to transfer to DC schemes remains too high."

I agree. It's hard to strike a balance, but sometimes people simply cannot be trusted to know what's in their own long term interests. Sad. But true.

Too many advisers don't know either!

Indeed. Show me the client's yachts please?

Whilst I know many clients with yachts, I don't know any advisers with one. I'm sure there are some, but the implication that advisers are making more than their clients is ludicrous.

Looking at your signature, I can see you have a dog in that fight. I don't believe you and many others here won't believe you either. Final word, I am not picking a fight, I am expressing an opinion.

Do you think that a financial advisor is the kind of job that pays enough to afford a yacht? I guess it depends on how big the yacht is.
I am not a financial advisor but one of my friends is - he isn't especially well paid.

I guess that if you are the head honcho/owner  of a reasonable size group of offices and have been doing the job for many years , you could maybe afford a yacht .
Otherwise I do not think your average IFA is such a big earner.

So the same as a senior manager / director in a lot of industries then. I really don't get why there are so many people on here taking pot shots at IFAs all the time.

I know a plumber with a Maserati, Range Rover and a yacht, his loyal customers use him because he provides a service they need at a price they are prepared to pay, same for IFAs. 

Diplodicus

As a bunch, Financial Advisers are personable, sensible and as self-interested as any other group. It may be that the flaw is to imagine that human nature will not apply in the decisions of those elevated to gatekeepers of the process. 
And even if an adviser can be Solomon-like; she/he is constrained by paid for legal advice,  which is obviously biased towards the paymaster.

So I would agree with Linton that advisers left in the middle are not necessarily the sole villains of an unsatisfactory situation.

AlanP2 - “the plumber’s loyal customers use him because he provides a service they need at a price they are prepared to pay.”
That differs in at least two respects to the DB pension transfer experience.