Independent Financial Advisor - expectations
Comments
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Thanks Dunston have, I will ask.0
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Zagfles, I wouldn't say drawdown is imminent. I'm 50 and want to make sure I'm on the right track pensionwise so I can make changes, if necessary, whilst there's time.0
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Yes, but with specific regard to flexibilities, that shouldn't be a reason to transfer now, as you don't need them yet. I have an inflexibile pension, which I will transfer, but I'm not going to transfer it until I want to drawdown from it. Right now, other issues should be the drivers such as charges, performance, risk etc.Zagfles, I wouldn't say drawdown is imminent. I'm 50 and want to make sure I'm on the right track pensionwise so I can make changes, if necessary, whilst there's time.0 -
You have every right to go back to them and ask them to justify the tripling of charges and to make clear that was never one of your objectives.
Sadly, too many IFAs won't give advice unless it involves them being seen to make a recommendation which involves an action such as a new product purchase as they feel many people won't pay for advice just to be told to just keep things as they are.
The other element to this is that presumably the new annual charges includes an element of you receiving advice from them every year to keep you on track and which can be paid for direct from the Liberty Sipp they've recommended? The simple fact is that your existing pensions don't offer that functionality to pay the adviser so it's rare that an adviser will recommend that you keep them, despite the lower cost.0
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