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Natwest invest

Sparkymark70
Posts: 31 Forumite

Natwest have an offer to pay varying amounts depending on transfer value when you move to them. Anyone had experience of them or views on moving to them ?
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Comments
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No experience or views of moving to them (I bank with NatWest and am happy with them as a bank, but have my pension elsewhere).
I would check the on-going charges carefully (including any exit charges). I would also check that you are happy with what you can invest in. If you can only invest in NatWest funds or portfolios, I would be very wary unless these have at least 5 years of history that you can see.
I assume that you are looking at NatWest's offer because you have a pension you want to move and there IS a charge to move it that NatWest will pay if you move to them?The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0 -
Historically, banks have been amongst the worst places to obtain advice. Typically a mixture of expensive products, poor quality investing and bad advice. Nowadays, many of them have gone down the robo-guidence route to reduce their liability. So, you should be on guard and make sure the offering suits you.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
From the look of it, they offer a robo-advice type service with ready-made portfolios based on what risk profile you are. Just like PensionBee etc. They are a "buy it and leave it" option which might be good for you if you don't want to spend time managing the investments.
No idea if they are any good or not, in terms of past performance. Fees seem reasonable, but don't move just because of the incentive. However, if you think it meets your needs and you value the incentive, then there's no reason not to choose them over any other provider.1
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