PAL Sipp & Brooks Macdonald Asset Management

jem16

balooney2000 wrote: »

for this extra 0.5% they offer an ongoing partnership(which I have found to be a rare thing amongst IFA's),

What is an "ongoing partnership"?

provide a dedicated adviser who retains responsibility for any and all of the services that the firm may provide and keeps my arrangements under review ensuring that my financial affairs are managed, plus a number of admin services.

That's what I would expect an IFA to do for the normal trail commission of 0.5%. Can't see why an extra 0.5% would be justified.

It's not a sales pitch - honest .

It sounds exactly like a sales pitch by the IFA concerned.

dunstonh

That's what I would expect an IFA to do for the normal trail commission of 0.5%. Can't see why an extra 0.5% would be justified.

Especially as the IFA isnt doing any of the work. the DIM is doing all that.

balooney2000

jem16 wrote: »

What is an "ongoing partnership"?

I just want the IFA to be pro-active with regard to my financial affairs and not for me to have to constantly chase them for a periodic review.

I find that IFA's are of the moment - They give you advice, take the commission and then you're forgotten. Retired I.F.A even made the point earlier on in this thread that had I and my original IFA stayed in touch things could have been different. That's all I ever wanted and I assumed (naively perhaps) that this was the norm. This time I looked for a fee based IFA rather than commission based as I wanted one that would keep in touch and review my financial affairs periodically. I understand what people are saying - that if an IFA gets 0.5% of my pension fund as standard and they have handed the 'investment management' to a 3rd party then what are they doing to justify the extra 0.5% on top - Point taken.

The question now is how do you go about finding a reputable IFA who charges a fair fee ? I went through FSA to find this one who I thought came over well. It's only because I had reservations that I sought the advice from this forum. Lucky I did ! Thanks to all for putting doubt into my mind.