Opinions please: Are these pension charges typical, or am I being ripped off?

Silver66

wjr4 said:

To be honest, I’ve had clients who haven’t made much money since 2018 being a medium risk investor. Financial advisers cannot predict the future with investments. We can only give you advice based on your attitude to risk, capacity for loss, timeframe, knowledge and experience. Receiving financial advice is more than just investment management. 

How long will you be investing for? How old are you? What are your objectives? There’s so much more to the job than just investment management. 

Hi wjr4, Thanks for your reply.  I'm 41 years old and hoping to put as much as possible into my pension for as long as I can.  I also have a cash lifetime ISA that I'm going to pay into until I'm 50.
I understand what you're saying, that financial advisers can't predict the future.  A few days ago I had a free chat with a different IFA who told me that the charges I was paying were pretty typical for the industry.  They told me which different investments they would recommend, but again we could only compare past performance.  Meanwhile the book I ordered, Smarter Investing, has arrived and I'm preparing to talk to a different IFA next week, just to get a few different opinions.

Silver66

Qyburn said:

Silver66 said:

I think I will withdraw the ISA although I'm not yet sure where  else to put it.  

Why not transfer it instead, keep it tax free? You may be able to transfer into a cash ISA meanwhile.

Definitely, I wouldn't withdraw it into a non-ISA account.  I should have said transfer.  But I don't think I will transfer it into a cash ISA while the markets are down.

Albermarle

Silver66 said:

Qyburn said:

Silver66 said:

I think I will withdraw the ISA although I'm not yet sure where  else to put it.  

Why not transfer it instead, keep it tax free? You may be able to transfer into a cash ISA meanwhile.

Definitely, I wouldn't withdraw it into a non-ISA account.  I should have said transfer.  But I don't think I will transfer it into a cash ISA while the markets are down.

You have to be careful in this area not to jump to assumptions about stock markets, based on the endless diet of bad news in the world.
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