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IFA for pension advice and fee - outcome
Comments
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Have you signed a client agreement, as you may be liable for the fee anyway. Personally, I get a fee agreement signed and fees are due even if advice isn’t followed. We aren’t charities. You pay for the advice, not just the implementation.
I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.3 -
2% ongoing is far too high.
I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.0 -
It's also not just 'fire and forget' investing, its also keeping on top of the constant changes to the UK financial landscape, government policy changes and ensuring the rules you are following at any one time are applicable going forwards.
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You have to accept that IFAs provide plenty of entertainment. £5.5K to transfer a few pensions. Provides a good few hours of ROFL.
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A lot cheaper than falling for a scam "pension release scheme", so not really particularly funny, just the way business has to go these days - ie covering insurance, regulatory compliance, staff salaries and, heaven forbid a little profit.
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The IFA may be a 'pension release scheme'. Just because they say they are an IFA doesn't mean they are. The options aren't just being scammed by an IFA or being scammed by another type of scammer. Far safer to do it yourself than trust some dodgy stranger coming to your house saying that they are an IFA.
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Your constant anti-IFA rhetoric really is very tedious and unfounded in the vast, vast majority of cases.
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It's an obscene amount of money to take from someone that has worked really hard for it, just to transfer a few pensions. It's silly to suggest you would fall victim to a pension scam if you don't use an IFA. Tell that to the British Steel workers scammed by IFAs.
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Checking the FCA register would confirm…
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
The British Steel pensioners were scammed by IFAs on the FCA register.
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