Fees for setting up an annuity? And dealing with annuity providers directly

cfw1994

TheGreenFrog said:

In my recent experience the quotes I got varied, with no logic I could discern.  The important figure is the post fee annuity amount.  The best quote I got was through a broker.  Other brokers came up with a lower amount from the same insurer.  The insurer itself gave me a direct quote which was beaten by the best broker quote.  I got an IFA to quote and he could not beat the best broker quote (even though his fee was slightly lower than that of the best broker).  I ended up using the IFA as I wanted some advice.

What kind of broker does annuities?
Google kind of just lists providers (Aviva, L&G, etc), & articles like this suggest you need to speak with an advisor 🤷‍♂️

DRS1

cfw1994 said:

TheGreenFrog said:

In my recent experience the quotes I got varied, with no logic I could discern.  The important figure is the post fee annuity amount.  The best quote I got was through a broker.  Other brokers came up with a lower amount from the same insurer.  The insurer itself gave me a direct quote which was beaten by the best broker quote.  I got an IFA to quote and he could not beat the best broker quote (even though his fee was slightly lower than that of the best broker).  I ended up using the IFA as I wanted some advice.

What kind of broker does annuities?
Google kind of just lists providers (Aviva, L&G, etc), & articles like this suggest you need to speak with an advisor 🤷‍♂️

Hargreaves Lansdown does them.  So do companies like Retirement Line.  Not recommendations and I am sure an IFA may be better if you can find one.