Pension pot strategy?

Albermarle

Jon_01 said:

Albermarle said:

She has spoken to an adviser, but didn't really get much from it. The advised just seemed to want to read her script and then go...   We may go to see another...

The issue with any advisor will be that the sums involved are not very exciting for them.

£50K is pretty much the minimum, and many will not get out of bed for less than £150K. Plus you only really want advice on how best to use/reduce it. Also they can have little input  into local authority DB pensions or State pensions.

In theory you can just pay an advisor a set sum, unrelated to the funds you have, but many advisors do not subscribe to this business model and in any case would probably cost about £2K ?? The issue is that they are highly regulated and can not just give advice off the cuff ( like we can on here  ) so they have to find out everything about you, before being able to offer personal financial advice that they are liable for if it proves to be poor or wrong. 

That explains a lot, thanks.   So, how do you get an idea of what to do if you only have a small fund and just want some suggestions on what to do with it?

There is a gap in the market which is known about.

You can get low cost stripped down advice for smaller sums, sometimes from the pension provider. However this will be mainly limited to setting up a pension/investment portfolio for you and not any wider issues or strategy.

Otherwise you just have to improve your own knowledge and deal it with yourself. Reading this forum regularly, and asking questions is a good way of learning.