Financial advice

garmeg

ZingPowZing said:

garmeg said:

ZingPowZing said:

garmeg said:

ZingPowZing said:

garmeg said:

dunstonh said:

FGdsa21 said:

jamesd those figures are for a level annuity, and like I said previously approx £150 per annum guaranteed benifit.
So taking financial advice to have control of taking lump sums rather than annuity will prove to be as previous posts have said a £1,000 cost for a signed letter from a financial advisor versus losing £150 a year benefit!!! 

That assumes you find an IFA willing. Overriding a GAR is something that PI insurers ask advisers if they have done it  and request case specific details each year (cumulatively).  Many would consider not offering advice at all rather than put up with that hassle and the increased annual premiums that come with it.      Then you have insistent client data that gets requested as well.  Chances are this case would fall foul of both.   So, good chance an IFA would say thank you but no thanks.

A bit mean to be in this situation due to what is really a crap GAR.

Assume you didn't pass the IFA traineeship, garmeg.

Assume you did pay Hargreaves Lansdown for their, not free, advice in the end?

Every penny.
Would have cost thirty times more to have followed their recommendation. So, swings and roundabouts, garmeg.

Did the money come from your pension (ouch) or taxed funds (more ouch)?

So may it please you, garmeg, it came from my bank account. 
The real damage in many cases, I believe, will be the legacy of self-serving advice. 

That's not great. Not even getting tax relief on those charges.