Royal London Pension

FIREDreamer

What’s the easiest way to open a pension with Royal London?

Hal17

You cannot open a pension directly with Royal London. You need to go via a Financial Advisor.

FIREDreamer

Hal17 said:

You cannot open a pension directly with Royal London. You need to go via a Financial Advisor.

Thanks.

That’s a shame.

Beddie

Plenty of other providers - what made you want a RL pension?

FIREDreamer

Beddie said:

Plenty of other providers - what made you want a RL pension?

Just seems to be a very low cost provider with 100% FSCS protection.

Xenon

Why do RL only go through financial adviser(s) may i ask ?

Are there benefits/pitfalls for them ?

Just curious

Albermarle

Xenon said:

Why do RL only go through financial adviser(s) may i ask ?

Are there benefits/pitfalls for them ?

Just curious

Many providers will only work via financial advisors. Royal London is just the biggest one.
It saves them time and money as they need less customers service people to answer all the basic questions that customers will ask. Also they do not have to worry about customers complaining they did not understand about investments and why have they gone down etc and they can dispense with all the usual stuff about warning clients about this and that to cover their behind.

In fact I think RL are a bit unusual as once the pension is set up, the customer is able to access their website and even action certain things themselves.