Prism Financial Advice Limited

akadk1612

Does anyone know anything about this company? (Prism Financial Advice Limited)?

prismadvice.co.uk

I have a substantial pension pot with Standard Life. Would I be wise transferring it all to Prism?
Thanks for any information.
AK
I have a substantial pension pot with Standard Life. Would I be wise transferring it all to Prism?
Thanks for any information.
AK
I'm sorry about the error in my previous post.

TadleyBaggie

Who has suggested that you transfer your pension to them? If you've been cold called I would be very weary.

Looking at them they are just financial advisers, so presumably they would just move the pot to another platform.

More information is required.

dunstonh

duplicate thread: https://forums.moneysavingexpert.com/discussion/6423368/prism-financial-advice-limited#latest

akadk1612

TadleyBaggie said:

Who has suggested that you transfer your pension to them? If you've been cold called I would be very weary.

Looking at them they are just financial advisers, so presumably they would just move the pot to another platform.

More information is required.

They use Parmenion>

akadk1612

dunstonh said:

duplicate thread: https://forums.moneysavingexpert.com/discussion/6423368/prism-financial-advice-limited#latest

I know. I apologised that I had used a misleading name for the company. They use Parmenion 

akadk1612

TadleyBaggie said:

Who has suggested that you transfer your pension to them? If you've been cold called I would be very weary.

Looking at them they are just financial advisers, so presumably they would just move the pot to another platform.

More information is required.

A financial adviser I used to have has contacted me. He now works as a self-employed agent for Prism Financial Advice Ltd and is looing for clients to move across - presumably for a commission.
They use Parmenion for their fund management - again presumably for a commission.
I wondered if anyone had heard of this company, or even had any dealing with them?

TadleyBaggie

I responded on your other thread.

Albermarle

akadk1612 said:

TadleyBaggie said:

Who has suggested that you transfer your pension to them? If you've been cold called I would be very weary.

Looking at them they are just financial advisers, so presumably they would just move the pot to another platform.

More information is required.

A financial adviser I used to have has contacted me. He now works as a self-employed agent for Prism Financial Advice Ltd and is looing for clients to move across - presumably for a commission.
They use Parmenion for their fund management - again presumably for a commission.
I wondered if anyone had heard of this company, or even had any dealing with them?

Putting the specific question about Prism aside, what reasons do you have for thinking that a move from Standard Life might benefit you? Have you actually been seeking financial advice, or want it ?

dunstonh

akadk1612 said:

dunstonh said:

duplicate thread: https://forums.moneysavingexpert.com/discussion/6423368/prism-financial-advice-limited#latest

I know. I apologised that I had used a misleading name for the company. They use Parmenion 

Thats good as the company you first named had me concerned.  

A financial adviser I used to have has contacted me. He now works as a self-employed agent for Prism Financial Advice Ltd and is looing for clients to move across - presumably for a commission.

Commission was banned at the end of 2012.   Everything is fee based now.  

They use Parmenion for their fund management - again presumably for a commission.

No commission.  Parmenion is a platform.  They also have discretionary management portfolios.    You can be with Parmenion and not use the Parmenion portfolios.    There is no commission as again, its fee based.

I wondered if anyone had heard of this company, or even had any dealing with them?

I have not heard of Prism but then they wouldn't have heard of my company.   Intermediaries are typically small firms of 1-5 advisers who operate within their locality.  They may have local recognition but nothing to note on the internet.  Its a bit like asking people around the country what your local butcher is like.    However, you are not putting your pension with the intermediary.        They are recommending a DFM service with a platform to facilitate it.    Typically DFM/wealth management services are at the upper end of the cost spectrum.   And as such, I don't personally use them unless the investor wants an ESG theme.   You don't use a platform and DFM service to save money.

zagfles

A quick and easy check you can do is for any ombudsman decisions against them, link below although it's down for maintenance at the moment, try later:

https://www.financial-ombudsman.org.uk/decisions-case-studies/ombudsman-decisions