Rough idea of cost for an execution only fee for moving a small DB pot to a DC pot

KeiserSoze

Hi

I have a small DB pension that I *might* want to move to my bigger DC pot. I've asked for a quote from the provider for a current cash out value. 

My understanding is that if the value is <£30k I can handle the transfer myself but if it's >£30k I'd need IFA sign off. 

Therefore I'd appreciate a ball park figure of what I'd expect to pay an IFA to help with such a transaction. 

Cheers! 

dunstonh

Therefore I'd appreciate a ball park figure of what I'd expect to pay an IFA to help with such a transaction. 

You can't do execution only on a DB transfer.  You are typically looking in the £5k ballpark

KeiserSoze

dunstonh said:

Therefore I'd appreciate a ball park figure of what I'd expect to pay an IFA to help with such a transaction. 

You can't do execution only on a DB transfer.  You are typically looking in the £5k ballpark

OK thanks, sounds like it'll be inefficient to go for a transfer if the value is just over £30k if I'm paying over 15% of that value to enact the transfer. 

dunstonh

KeiserSoze said:

dunstonh said:

Therefore I'd appreciate a ball park figure of what I'd expect to pay an IFA to help with such a transaction. 

You can't do execution only on a DB transfer.  You are typically looking in the £5k ballpark

OK thanks, sounds like it'll be inefficient to go for a transfer if the value is just over £30k if I'm paying over 15% of that value to enact the transfer. 

That is generally case since CETVs fell by half over the last years.