Pension advisor prices?

littlemissbossy

OP, I saw an IFA in 2021, the fees were £695 for the planning and a 1% of the pension pot fee. 

HTH

grn99

Our initial fees to talk/prep were circa £2K, Initial implementation was going to be 1% of total funds (Pension pot, ISAs, non-ISA savings, cash at bank etc), the ongoing IFA charges  0.75 - 1.5% plus all platform and investment charges etc.

The "low" % numbers almost sound like nothing, until it translates into real £££. For us it would've been about £10 K intial plus a further £6K per annum for a complex drawdown model all based on a single provider's platform that required an IFA to be in place...so tied in long-term; Over a 10 year period alone, that would've amounted to a 10k intial charge plus £60k ongoing costs and that was just for me...couldn't get an answer as to how the quality of the selections / tax efficiencies would make those costs justifiable. So, we have gone the DIY route, learning by necessity. To my mind I can lose 6K pa and still "break-even".

Aylesbury_Duck

saltire said:

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 .

If you're going to play that silly game then you're not going to get much sympathy or support here.  

Ibrahim5

It takes about 100x the amount of training time to be a consultant surgeon than it does to be an IFA so I think it would be reasonable to expect a surgeon's fees to be somewhat higher. People can charge anything they want. though, so it's up to the customer whether they are willing to pay. The big difference is that an IFA doesn't need any practical skills, so if you can read and write and fill in forms it's easy to learn how to do it yourself.