Discretionary Managed Pension charges

Bostonerimus1

RichardS said:

Qyburn said:

RichardS said:c

Yes it includes fund, platform and advisor fees.  I thought my fees were 1.3% but when I checked this this morning (after reading some of the comments on my other thread) my FA replied saying is also a Quilters fee of 0.27% giving me a total charge of 1.57%

Is Quilter the fund?  I don't quite agree with the comments that returns aren't relevant, these seem to assume that you'd be sure to get the same return if you ditched the FA and made your own fund choices. That might be a path you'd be less willing to take if you're getting the returns you need, net of fees. 

I have no idea what it is - presumably some sort of investment fund that my pension is linked to

Your lack of knowledge and previous disengagement from your pension is the essence of your problem, but you are now doing something about that. The fact that you have a DFM worries me as that just screams extra costs. So you need to gather as much literature on you pension as possible and read through it and understand it. This will require a bit of time and probably looking up some terms, but education is your first step.

Qyburn

Bostonerimus1 said:

RichardS said:

Qyburn said:

Quilters fee of 0.27% giving me a total charge of 1.57%

Is Quilter the fund?  

I have no idea what it is

Looks like Quilter is the platform used by the DAM or advisor. It's not clear why you are charged for this, and what it adds over and above Fidelity.
https://www.quilter.com/

Albermarle

OP,
I think with both threads we are going around in circles to some extent. 
 This comment in the previous post sums up the situation, It is up to you to decide.

This is what it really boils down to.    Do you want to DIY or pay someone else to do it for you?     On your value, an advised portfolio at 1.57% total cost (possibly including the synthetic TC costs) is not a scary fee.    You can do better.  You can get worse.    If you DIY well, then you could be better off.  If you DIY badly, it could be a very costly mistake.

This comment was also very useful .

Your lack of knowledge and previous disengagement from your pension is the essence of your problem, but you are now doing something about that.

So the logical course of action is to leave the current arrangement in place. Then spend the next 12 months reading about and understanding investing ( and what you are currently invested in and why ) .
In one years time review the situation.

dunstonh

The fact that you have a DFM worries me as that just screams extra costs. 

Not necessarily.   Some ot the modern DFMs are doing well on bringing costs down.  Some of the old guard are expensive and do scream extra cost for no real benefit.

Looks like Quilter is the platform used by the DAM or advisor. It's not clear why you are charged for this, and what it adds over and above Fidelity.
https://www.quilter.com/

Give me Quilters software over Fidelity any day.   Quilter frequently offer improved terms over their published default.