WEALTH at work?

dunstonh

W@W recommend transferring that DC pot to the W@W SIPP to "take advantage of the discretionary managed portfolio service".

That is not usually considered a suitable justification.  i.e. how many clients say to an adviser  "I want to take advantage of your discretionary managed portfolio service".

To be fair, investment strategy and style can be a valid reason but the client has to understand what is going on and why.

Their conclusion showed a comparison with the relatives existing Aviva DC pot....with a low/med/high forecast.....
....but all three forecasts show their SIPP results as being lower than Aviva!

Cost comparisons are a requirement and the projection method is one of the most commonly used.  They should also be benchmarked against stakeholder pensions and, if independent, should include the cheapest providers offering the same investments, if they are not already the cheapest option.    Reasons for not selecting the cheapest should be documented.

Given they charge a hefty 2% initial transfer, then over 1.5% +VAT annual (versus the 0.875% Aviva all-in costs),

There shouldn't be VAT.  Advisory and discretionary models are free of VAT.    Discretionary was VATable about 3-4 years ago but an HMRC ruling meant all DFMs stopped charging.      Or rather, most did if they are still charging it.   If there is VAT being charged, then I would be concerned as it would indicate they are not up to speed on current affairs.    

MaxB6

Honestly reading any defensive against this shambles of a company makes me sick. 
How anyone can think WAW can offer anything other than a horriblely forced sale is beyond me. 

They are NOT IFAs. They only offer their inhouse DFM portfolio. 

This portfolio is badly managed and massively underperforming, no wonder when you look at the managers and their "experience" 

The charges include VAT which was actually stopped by the FCA so shouldn't happen. 

Their reports haven't changed in over 10 years exact same wording on each and every person's report.

They don't offer proper comparisons on products just state DFM is better, but it really is not. 

The staff are heavily targeted and pressured into selling you stuff you don't need. 

Please please please avoid this cowboy company! 
Even SJP would be better than these fools. 

cfw1994

Strong first post!
Have you had some poor direct experience with them to leap in with this as your opener?