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    • Mr_h
    • By Mr_h 21st Oct 19, 3:57 PM
    • 21Posts
    • 2Thanks
    Mr_h
    Profile Pensions - annual review service
    • #1
    • 21st Oct 19, 3:57 PM
    Profile Pensions - annual review service 21st Oct 19 at 3:57 PM
    Hi all,

    I decided to appoint Profile Pensions to review my pension scheme (which was previously with Aegon).

    Following their advice I decided to switch my pension to another large pension provider to benefit from lower AMCs, better fund performance etc etc. To be fair, their advice did seem to be the correct course of action for me to take when comparing each of the funds performance to date.

    At present, however, they conduct an annual review service, which is basically just a quick telephone call to confirm the prevailing fund value, and tell me what the last 12 months discrete performance was. Basically, things I can do myself for free if I log onto my pension provider's web-site...

    I should also say that I have over 20 years to go until I reach my State Pension Age of 68.
    I'm not sure whether the frequency of their reviews is excessive, i.e. I would prefer a more in-depth review every 5 years ago?

    They are charging 0.35% as an on-going adviser charge, and I feel they are adding little to no value to my current pension arrangements, and I will probably sever the relationship on this basis. Does seem this reasonable?

    I work in the financial services, and I have an intermediate understanding of funds, investments etc (and so I would be comfortable using platforms myself such as Trustnet to compare different funds etc.

    Any suggestions or insight would be appreciated.
Page 1
    • SonOf
    • By SonOf 21st Oct 19, 4:17 PM
    • 1,786 Posts
    • 2,044 Thanks
    SonOf
    • #2
    • 21st Oct 19, 4:17 PM
    • #2
    • 21st Oct 19, 4:17 PM
    I'm not sure whether the frequency of their reviews is excessive, i.e. I would prefer a more in-depth review every 5 years ago?
    If you are in a multi-asset fund then every 5 years or change of circumstances would be fine. If you are in a bespoke portfolio of single sector funds, then annually.
    • Mr_h
    • By Mr_h 21st Oct 19, 4:32 PM
    • 21 Posts
    • 2 Thanks
    Mr_h
    • #3
    • 21st Oct 19, 4:32 PM
    • #3
    • 21st Oct 19, 4:32 PM
    Thanks for your quick reply. The fund I'm invested in is a fund of funds - so every 5 years/ change in circumstances is fine then.
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