Pensions

greevescat

I have 2-3 different pensions and my FA is telling me to transfer them all with Fundment so, I can draw on them when i need some money, I realise that this fund could go down as well as up but can anyone tell me if an annual charge of 1.5% is the norm.

Dazed_and_C0nfused

greevescat said:

I have 2-3 different pensions and my FA is telling me to transfer them all with Fundment so, I can draw on them when i need some money, I realise that this fund could go down as well as up but can anyone tell me if an annual charge of 1.5% is the norm.

Why are you using a financial advisor?

Normal practice is to DIY or an independent financial adviser.

dunstonh

I may not catch any replies as this thread is in the wrong section.

 I realise that this fund could go down as well as up but can anyone tell me if an annual charge of 1.5% is the norm.

Depends on how the 1.5% is made up.

Adviser charge typical is 0.50% (apart from small values where it may be higher)
Platform charges around  0.25%
So, that is 0.75% ballpark
Then you add fund charges.  These can range from around 0.1% to 2%. 
A fully active portfolio would take you to 1.5% (or above).  A passive portfolio would keep you below 1%.

Heedtheadvice

You are lucky OP that Dunstonh is feeling 'green'. It would have been better to post in https://forums.moneysavingexpert.com/categories/pensions-annuities-retirement-planning or in the savings and investment area. At least you got a reply from one of the best posters in the area of interest!!!