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What I want is to find an IFa who will search the best option for the annuity I want, maybe make the odd suggestion/advice, and having made the decision, conclude the transaction.
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Any IFA can do this. Its a bread and butter transaction for an IFA.
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want to know how much this will cost, ie the fee. I do not want a complete financial makeover, I just want the best value for a one-off insurance product.
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Probably best on commission rather than fees as annuity commission is typically 1 to 1.5%. Some annuity providers insist on commission taken and will not allow adjustments. If it is a large annuity (say over £100k after tax free cash) then you should have scope for some discounting on commission but HMRC rules prevent you getting it as cashback. You will get an extra pound a month or similar.
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made contact with one of the "big three" IFAs referred to on moneysaving expert.
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I assume you use the term big three to reflect their high charges. The site does not mention the biggest three IFAs in turnover. The discount IFAs mentioned on MSE are for non advice services. Their advice arms are typically more expensive than most local firms.
[quote]I was told that if they went ahead and made a recommendation, which I didn't accept, they would charge £350/450 - that's acceptable.
However if I accept the recommendation they charge 1.5 - 2/5% of the capital sum over £40,000, say £1,000 or "2500 for a large sum.QUOTE]
You are misreading what they have told you. They are charging you and keeping commission. This is not unexpected when you go to discount online IFAs that also have an advice arm. They can afford to charge a lot more because they can get away with it.
You will find a local IFA that wont charge a penny and will just keep the commission (which is not an explicit cost in the case of annuities).
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I was told that many companies would not deal with me if I did not use an IFA.
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That is correct. Many of the top payers will only transact through an IFA. If you are a smoker or can qualify for enhanced annuities then you must see an IFA as it will cost you a lot of money if you dont.
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don't like this part - my only previous experience with an independent advisor was recommending my transfer out of a salary based scheme to a private pension in 1991. I have persued mis-selling all the way to the FSA, but was turned down because the firm did not have the "right" protection.
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Which has nothing to do with the 30,000 or so other advisers that are authorised and regulated to give advice today. Over the years I have seen poor teachers, poor doctors, electricians etc. That doesnt mean you stop using them when needed. You just find a another one instead.
It sounds like you had a FIMBRA adviser who ceased trading before 1994. That would be the only time you would not be covered for a 1991 case. Also, 1991 is before regulation had really started to kick in fully.
I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.