impossible to find FA for DB transfer
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Maybe i have a reason for my atitude, FA turned up to my house in new sportscar,
Jealousy is not a reason to have an attitude. People who work hard are entitled to spend their money how they like. Maybe he doesnt drink or smoke and puts his money into his car. Maybe that is his hobby. You don't know anything about their lifestyle. Maybe his wife is the main earner or it was inherited money.
Also, sports cars dont necessarily cost much. Mine cost about a third less than the family car.initial consultation i was told fee would be £1k, later on had 2nd more comprehensive meeting where fee went up to £3k, like I said FAs ripping us off
Maybe once he understood your personality and what you actually wanted to do (which is almost certainly a bad thing to do), he upped the charge to act as a passive blocker. Can't see any rip off here though.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Just completed my transfer very very happy!0
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3% of the cetv but that is the best price I could find, has anyone done it cheaper?.0
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3% of the cetv but that is the best price I could find, has anyone done it cheaper?.
In this situation, size is important. If looking at percentages, I have advised on a DB transfer for less than 0.5% of the CETV. But it was a substantial transfer.
On a pot of £36000 such as the OP’s, 3% would be quite cheap.I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0 -
3% of the transfer value0
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Paid from the transfer value when it arrived at its destination outside the DBS0
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Very happy no longer need to rely on the rules being changed and if I drop dead tomorrow a large cash payment goes to my family.
This is not meant to be advice it just suits my own circumstances, please seek your own advice.
The FCA make you use an IFA and they charge an amount which they are entitled to do but there is not a lot of choice in my experience, because many IFAs are not in a position to offer advice on this type of transaction.0 -
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The FCA make you use an IFA and they charge an amount which they are entitled to do but there is not a lot of choice in my experience, because many IFAs are not in a position to offer advice on this type of transaction.
It's not the FCA that make you use an IFA, it's the law.
If there's not a lot of choice, it's because advisers choose not to offer this sort of advice. And that's because it's fraught with difficulty and the risk of complaints, years after the event when people get a lower income than they anticipated because they transferred without fully understanding the risks.0
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