Pension advisor prices?

Cobbler_tone

Albermarle said:

Cobbler_tone said:

I was going to say that all of our middle managers (starting on £40k) drive £60k cars. I’m not sure what car would be acceptable, a 2019 plate Golf?

I guess it depends on the industry/profession.
In the (large manufacturing )industry I was in, a sales rep on £40k might just get a £30k car, due to all the travelling involved ,but nobody else would.
Even a national sales manager on £75k would not get a car much above £40k.

We are all electric, so mainly Tesla or Polestar. Actually there are some cheaper iD4’s but they are non-management. I drive a 2013 Golf with 200k because I love it and it’s bulletproof. I guess cars are your thing or a means to get from A to B. Mine always does.
Average service length is over 20 years at my place, so people clearly recognise we are a decent firm.

dunstonh

Many owner/directors are taking advantage of the low tax on EVs.   You can have a £100k EV through the company, cheaper than a car half that price personally.     

Mr_Benn

Just as a comparison, Ive just met with a Financial Advisor. She was quoting for arranging a Pension or Annuity 3% of the value after taking the tax free lump sum.  So if a pension value was £100k ,  her fee would be £2,250.   No ongoing charges. 

My dilemma has been realising she isnt an IFA, but she is somebody who was recommended by a friend.  She did say they cover 'the whole of the market where Annuities are concerned. 

Cobbler_tone

As an aside, my business activity point you towards financial advice (which you pay for, around £1k I think) with the scheme we are in. So we clearly can’t offer financial advice but maybe poor advice, although you are obviously tied to the funds they have available, so probably makes sense. 

wjr4

Mr_Benn said:

Just as a comparison, Ive just met with a Financial Advisor. She was quoting for arranging a Pension or Annuity 3% of the value after taking the tax free lump sum.  So if a pension value was £100k ,  her fee would be £2,250.   No ongoing charges. 

My dilemma has been realising she isnt an IFA, but she is somebody who was recommended by a friend.  She did say they cover 'the whole of the market where Annuities are concerned. 

‘Whole of market’ is the current term being used by restricted advisers who cannot legally say they are ‘independent’. 

wjr4

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 .

I’m glad they have avoided having you as a client when you’re that judgemental. For all you know, they could have lost a wealthy parent and inherited a lot of money - either way, it’s none of your business. 

dunstonh

I have reported the OP to the board, recommending that they close/delete this thread.     I would suggest no further replies.

MallyGirl

So have I 

trevjl

??? Why, have I missed something, opinions may be a little off, but can't see anything abusive or out of order.
Just because his opinions don't align with most on here unable to see why he should be reported.

dunstonh

trevjl said:

??? Why, have I missed something, opinions may be a little off, but can't see anything abusive or out of order.
Just because his opinions don't align with most on here unable to see why he should be reported.

The board admin removed the posts where the OP took a nasty turn.