took advice on here and spoke to a Financial Advisor

eskbanker

performance vs my SW pension was - (AJ Bell figures quotes first) 

after 1 year - 13.74% vs 11.45%

after 3 years - 33.2% vs 33%

after 5 years - 47% vs 27% 

portfolio spread I think seemed to be roughly the same at 50% equity, 48% bonds & 2% cash

The most pronounced variance is in the 3-5 year period, which coincides with the substantial downturn in the bond market, so it would probably be worth exploring how the suggested portfolio apparently wasn't susceptible to that while remaining at circa 50/50 equities/bonds?

Xenon

I think £14k for set up costs is daylight robbery.

Bostonerimus1

So what services are you getting for the upfront cost and annual fee. Is it just putting you into one of six portfolios? If so, why not DIY?

jimboger1

https://forums.moneysavingexpert.com/discussion/comment/81877072#Comment_81877072

yes it seems to be, and yes I'll be going DIY for sure

jimboger1

thanks, that is a very good point

jimboger1

https://forums.moneysavingexpert.com/discussion/comment/81876033#Comment_81876033

thank you I'll have a closer look at those

ian16527

https://forums.moneysavingexpert.com/discussion/comment/81876074#Comment_81876074

Wasnt that the time when interest rates were high combined with something else ( I cant remember what😐️) and this caused Bonds to drop as well as stocks - don't remember what the other conditions were but Bonds did not do the smoothing and I remember a large fall. I moved up my stock percentage soon after.

jimboger1

from all the comments, it's clear that these charges are completely over OTT, and hence strengthens my hesitance in dealing with IFA's - I know it is not fair as they are not all the same, but it does leave a bad taste in my mouth

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81878936#Comment_81878936

So your choices now effectively boil down to:

1. Shop around for a better IFA
2. DIY
3. Do nothing

Which way are you leaning?

FrugaiMacDugal

In your first post you said.

took advice on here and spoke to a Financial Advisor.

now you are saying,

and hence strengthens my hesitance in dealing with IFA's.

There is a difference.