Does this IFA's service seem good enough to you?

Gudrun

zagfles said:

Have you researched your own quotes? Easy to do, loads of sites which compare providers. If you go direct, instead of paying advice fees you pay commission to the provider/broker, but it's possible to negotiate with annuity brokers to rebate some of their commission, so you could get a better deal direct than via an IFA. As Steve Webb explains here:

https://www.thisismoney.co.uk/money/pensions/article-9749773/Im-buying-annuity-55k-pot-does-broker-gets-commission.html

Thank you, and yes I did use an online comparison tool.   I have agreed to go through this IFA, as none of the providers I approached would let me buy an annuity direct.

dunstonh

Gudrun said:

dunstonh said:

By the way, is it normal not to say who the quote provider is?  

Have you agreed a fee with the adviser yet and formalised the advice or is this early days quote comparisons/shopping around? 

Yes fee of 4% agreed, advice agreed on basis I was drawing down 25% of fund.

That is high.  The sort of figure you may see on less than £40k fund value. 

wjr4

Which provider are they saying is best? 

Gudrun

wjr4 said:

Which provider are they saying is best? 

Things have moved on now and I've been shown several quotes.   For my particular requirements Scottish Widows looks best.