Pension advisor prices?

saltire

Asked 2 pension adviors how much will it cost me to look at my pensions .I have 3 seperate pensions  and i was shocked at the price they they were quoting me .The fact that they arrived both in 60k cars made me feel like i was getting stung .for what i was asking them to do .

What  would the average price be for this type of service .

ButterCheese

Google says this;  The average cost of a pension adviser in the UK typically ranges from £75 to £350 per hour, with fixed fees for specific services often starting around £995. Ongoing fees may also apply, usually around 1-2% of the pension fund value.

saltire

Guess i  might go it alone  , these folks are asking more than a Neurosurgeon gets paid .

westv

Mine charges 0.5%. 1-2% seems a bit excessive.

MeteredOut

ButterCheese said:

Google says this;  The average cost of a pension adviser in the UK typically ranges from £75 to £350 per hour, with fixed fees for specific services often starting around £995. Ongoing fees may also apply, usually around 1-2% of the pension fund value.

Is that Google AI? If so, it cannot be trusted. You don't know that output has been created from recent information, or from website blogs created 10 years ago.

No-one should be paying more than 1% for ongoing advice.

OP, whilst you won't get advice, post your questions here and I you'll get guidance that will help you decide whether paid-for advice is needed.

Exodi

MeteredOut said:

ButterCheese said:

Google says this;  The average cost of a pension adviser in the UK typically ranges from £75 to £350 per hour, with fixed fees for specific services often starting around £995. Ongoing fees may also apply, usually around 1-2% of the pension fund value.

Is that Google AI? If so, it cannot be trusted. You don't know that output has been created from recent information, or from website blogs created 10 years ago.

No-one should be paying more than 1% for ongoing advice.

OP, whilst you won't get advice, post your questions here and I you'll get guidance that will help you decide whether paid-for advice is needed.

To be fair, you can check the sources from Google AI by clicking the little link icon, but yes you're absolutely right that there is the potential for data to be used that is outdated.

saltire said:

The fact that they arrived both in 60k cars made me feel like i was getting stung for what i was asking them to do.

You seem to downplay their value. If it's so easy or simple, why not do it yourself (as you suggest)?

For all you know, the cars could be on finance. It certainly leaves a better impression turning up to a prospective client in a nice car, than turning up in an old banger and the client potentially thinking that they can't be very good or get much work as they can't afford a better car.

What is the value of your pensions, and what were you quoted?

saltire

Compaired to what a surgeon gets paid to save peoples lives  then yes i do downplay their value .I take it you are in the pension industry .

Marcon

saltire said:

Asked 2 pension adviors how much will it cost me to look at my pensions .I have 3 seperate pensions  and i was shocked at the price they they were quoting me .The fact that they arrived both in 60k cars made me feel like i was getting stung .for what i was asking them to do .

What  would the average price be for this type of service .

With such a vague instruction, it's hard to see how anyone could quote a meaningful price to you. 

Would you sooner take advice from someone who isn't successful enough to afford a decent car?

Cobbler_tone

You don’t need to earn much to be able to run a £60k car. Assuming these are qualified professionals dealing in big numbers of personal finance, do you expect them to earn minimum wage. Especially as a lot of their work will take place during unsociable hours. 

MeteredOut

Exodi said:

MeteredOut said:

ButterCheese said:

Google says this;  The average cost of a pension adviser in the UK typically ranges from £75 to £350 per hour, with fixed fees for specific services often starting around £995. Ongoing fees may also apply, usually around 1-2% of the pension fund value.

Is that Google AI? If so, it cannot be trusted. You don't know that output has been created from recent information, or from website blogs created 10 years ago.

No-one should be paying more than 1% for ongoing advice.

OP, whilst you won't get advice, post your questions here and I you'll get guidance that will help you decide whether paid-for advice is needed.

To be fair, you can check the sources from Google AI by clicking the little link icon, but yes you're absolutely right that there is the potential for data to be used that is outdated.

 Yes, you can. But, the poster didn't and instead said "Google said" and posted AI slop.

saltire

I dont think that the pension providers work unsociable hours  so why would they .Any how a 60k car would cost approx 1800 a month and is one hell of an amount of money per month .