Do I really need a Financial Advisor on an ongoing basis?

[Deleted User]

If an IFA puts in place a strategy to achieve your objectives and uses bought in research to buy appropriate funds it could be better for your wallet as well. I concede that you could pay less if you use a transactional service however if the availability of your IFA, through a retainer, means that you implement any planning and keep on top of it, is that not to your benefit?

If an IFA puts in place a good strategy, then there should be no need in his services for a long time. If the strategy is passive then no further “research” is required.  Tactical investing and all supporting research are available via active fund managers.  No need in the second layer of charges.

dunstonh

Transferred a pension pot of £11k this morning.  Done several under £50k this month alone.  Dont assume that IFAs wont touch pots below a certain amount.  General practitioner IFA firms will.  Usually on a transactional basis.    It is Wealth management firms that tend to have the higher minimum levels.  Or firms that are running at capacity.

Thrugelmir

Ibrahim5 said:

How long does an annual review costing £5k take? The IFAs won't answer the question. Is it 2 hours at £2.5k an hour or 100 hours at £50 an hour?

20% is swallowed up in VAT for a start, Net fee is £4k