Transfer cash out of workplace pension to SJP?

michaels

Worth noting that the difference between 0.5% pa and 1.67% pa on a £1m pot is £11,700pa - or over a 40 year retirement that is £468,000.  Do you really feel happy paying someone nearly half a million quid just to tell you to invest in something that won't outperform the market?

gm0

Even regular advice is pricey viewed long term.

Initial charge 1.0%
Ongoing charge 0.5%

Initial pot £Z

40 year plan - say age 57-97

Depletion of capital assumed (as target for living off returns and capital)
The area under the curve of capital+growth for fees drag 
Is defined by the halfway value which must be passed through on the way to zero regardless of dips/peaks affecting annual fees in the first or 2nd half.  Wavy line integral.

((0.005 * 40 * 1/2) + 1)) *Z.   Or 11% of initial value.

Which is a bargain. Or way too much.  Depending on taste.  And Z

CAPPED FEES

Use your own Z.   

And your own value for advice fees uncapped 

0.5% (11% initial) or 
1% (21% initial) or
1.5% (31% initial).  

Tell you what - I like you - I'll waive my initial fee.....if you sign today.

Of course professional day rates are a thing (see also lawyers and other regulated professions - per day.  

Are what they are.  And I used to sell my PI insured time by the day.  And not cheaply.   The irony.

If you need the skills/experience/knowledge on tap.  It's great.  

But be sure you do before letting the "subscription" get established.