Advice as trying corporate small pension pot. SFL wealth management are advising

paul2louise

barnstar2077 said:

paul2louise said:

MallyGirl said:

Maybe do a bit of research first - it sounds like you might be trying to fix something that may not even be broken.

That is what I am trying to do. But I don't know how to get help if you don't take advice from a financial advisor. Aviva won't tell me anything about my current pension funds unless I pay for an advisor. As my pot is small not many will waste their time helping me either. I want something that I can see perform and I have a bit of control over. The 2 pots I have with Aviva are not flexible and I have no idea how they are doing. 

Is it not possible to view your pots with Aviva online?  My company pension is with them and I am able to do so.

The 4k one is pretty much vague and I can't see any progress and I can't change anything online. The 17k shows what it is split into. I have the option to move the funds but I don't know how much they charge annually or what flexibility it offers. I am paying 0.95% for current pot. It doesn't really mean much to me. I have requested a review. When I spoke to them on the phone they couldn't or wouldn't tell me anything. Maybe I might get more information now I have asked for a review. 

paul2louise

Albermarle said:

Aviva won't tell me anything about my current pension funds unless I pay for an advisor.

Are you 100% sure about that as does not seem right .

Often pension companies will warn you that you should take financial advice , just to cover their backsides , but you don't have to . 

When I phoned them. Neither part of Aviva would discuss the other pot. I asked if I could merge them and they said I need to get an advisor and that would cost me. 

dunstonh

paul2louise said:

Albermarle said:

Aviva won't tell me anything about my current pension funds unless I pay for an advisor.

Are you 100% sure about that as does not seem right .

Often pension companies will warn you that you should take financial advice , just to cover their backsides , but you don't have to . 

When I phoned them. Neither part of Aviva would discuss the other pot. I asked if I could merge them and they said I need to get an advisor and that would cost me. 

Aviva are not allowed to offer advice or opinion.   They can state factual information but that is all.   Some of their plans can only be transacted in via an intermediary (adviser).   If you started to drift into non-factual questions then their stock answer is that you need to speak with an adviser.   They are not being difficult. They just don't have the regulatory permissions to answer and their staff are neither trained or qualified to answer questions that way.    

paul2louise

dunstonh said:

paul2louise said:

Albermarle said:

Aviva won't tell me anything about my current pension funds unless I pay for an advisor.

Are you 100% sure about that as does not seem right .

Often pension companies will warn you that you should take financial advice , just to cover their backsides , but you don't have to . 

When I phoned them. Neither part of Aviva would discuss the other pot. I asked if I could merge them and they said I need to get an advisor and that would cost me. 

Aviva are not allowed to offer advice or opinion.   They can state factual information but that is all.   Some of their plans can only be transacted in via an intermediary (adviser).   If you started to drift into non-factual questions then their stock answer is that you need to speak with an adviser.   They are not being difficult. They just don't have the regulatory permissions to answer and their staff are neither trained or qualified to answer questions that way.    

Yes that's what happened when I tried to ask last time. It's really difficult. I don't have a big pot for many advisors to be interested in. I just want to put the 2 pots together in a medium risk fund that I can watch and keep the fees as low as possible. 

Joey_Soap

Sounds to me like the OP is best placed to transfer the benefits from Aviva to the Vanguard platform. Depending on age and risk profile something like VLS60 or 80 fits the bill. OP doesn't need an adviser robbing her small pot for that kind of money. She needs the money more than an adviser does. I suggest the OP downloads the fact sheets from Vanguard, reads them and if comfortable, then fills in the form for the money to be transferred from Aviva to Vanguard. I have had limited experience of dealing with Aviva. But when I have, I find them singularly unhelpful.

ian16527

Open a Vanguard SIPP if you want to use Vanguard LS funds as this is the cheapest option regarding costs to run the platform. If you are paying 0.95% total now, the Vanguard option will be 0.37% using VLS funds .
I initially did what you are wanting to do, but my pot was 60K, and used a IFA. After reading this forum, I should have done it myself and saved the £1700 fees. I have just transferred this pot after 2 years to my Fidelity SIPP, just filled in the online form with the pension ref number and that was it. 

Albermarle

If you open the Vanguard SIPP as mentioned above , they will organise the transfers . Normally there would be no need to have any further contact with Aviva. 

Joey_Soap

Albermarle said:

If you open the Vanguard SIPP as mentioned above , they will organise the transfers . Normally there would be no need to have any further contact with Aviva. 

This person simply cannot afford the luxury of using an adviser. A few minutes downloading from Vanguard is what's needed here.

paul2louise

Thank you for your guidance. I am on a low income currently and don't see my pot increasing much for while yet. I do have my OH to rely on but I just want to make the best I can. I will definitely take a look at Vanguard. The lady from SFL said they use them too. 

Albermarle

Joey_Soap said:

Albermarle said:

If you open the Vanguard SIPP as mentioned above , they will organise the transfers . Normally there would be no need to have any further contact with Aviva. 

This person simply cannot afford the luxury of using an adviser. A few minutes downloading from Vanguard is what's needed here.

I think you misunderstood what I said ,. I have inserted some extra words to make it clearer.
If you open the Vanguard SIPP as mentioned above , Vanguard  will organise the transfers . Normally there would be no need to have any further contact with Aviva ( or the IFA)