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  • FIRST POST
    • eddyinfreehold
    • By eddyinfreehold 5th Dec 17, 10:45 PM
    • 158Posts
    • 117Thanks
    eddyinfreehold
    Lighthouse Group Financial Solutions
    • #1
    • 5th Dec 17, 10:45 PM
    Lighthouse Group Financial Solutions 5th Dec 17 at 10:45 PM
    My partner is organising retirement options and pensions. The union, ASCL, has a 'partner' Lighthouse Group. Are these people simply selling their annuities or are they genuinely offering impartial advice for the retiring teacher with their 'free' first consultation?
Page 1
    • BobQ
    • By BobQ 5th Dec 17, 11:28 PM
    • 9,964 Posts
    • 13,101 Thanks
    BobQ
    • #2
    • 5th Dec 17, 11:28 PM
    • #2
    • 5th Dec 17, 11:28 PM
    My partner is organising retirement options and pensions. The union, ASCL, has a 'partner' Lighthouse Group. Are these people simply selling their annuities or are they genuinely offering impartial advice for the retiring teacher with their 'free' first consultation?
    Originally posted by eddyinfreehold
    My brother in law is a civil servant and used Lighthouse (also suggested by his union) for some advice on a second pension.

    He arranged a telephone consultation appointment and they gave advice. There was no hard sell of other products, they just answered his questions.

    They are not likely to encourage a caller to give up a defined benefit pension for an annuity since that would in most cases be bad advice unless say they had low life expectancy.
    Last edited by BobQ; 05-12-2017 at 11:31 PM.
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
    • dunstonh
    • By dunstonh 6th Dec 17, 11:54 AM
    • 92,632 Posts
    • 59,944 Thanks
    dunstonh
    • #3
    • 6th Dec 17, 11:54 AM
    • #3
    • 6th Dec 17, 11:54 AM
    The union, ASCL, has a 'partner' Lighthouse Group.
    i.e the Union get paid a chunk of the fee for anyone that uses them. It is a commercial relationship for the union. Not a beneficial one for the consumer. They are not independent but restricted. All adviser firms give the first appointment free.

    I dont know if lighthouse were the company a few years ago but I did deal with a teacher who had seen the union adviser and myself and the advice between us differed. The union adviser was pushing annuity on the AVC whereas I said to keep it in the AVC and use UFPLS for ad-hoc lump sums when needed as there was plenty of income. So, my only experience of the union adviser was not great.
    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.
    • tigerspill
    • By tigerspill 6th Dec 17, 7:48 PM
    • 286 Posts
    • 99 Thanks
    tigerspill
    • #4
    • 6th Dec 17, 7:48 PM
    • #4
    • 6th Dec 17, 7:48 PM
    Our union all uses Lighthouse. When I spoke with them (a few times), I didn't find them that knowledgeable and their fees seemed high.
    • BobQ
    • By BobQ 6th Dec 17, 11:18 PM
    • 9,964 Posts
    • 13,101 Thanks
    BobQ
    • #5
    • 6th Dec 17, 11:18 PM
    • #5
    • 6th Dec 17, 11:18 PM
    i.e the Union get paid a chunk of the fee for anyone that uses them. It is a commercial relationship for the union. Not a beneficial one for the consumer. They are not independent but restricted. All adviser firms give the first appointment free.

    I dont know if lighthouse were the company a few years ago but I did deal with a teacher who had seen the union adviser and myself and the advice between us differed. The union adviser was pushing annuity on the AVC whereas I said to keep it in the AVC and use UFPLS for ad-hoc lump sums when needed as there was plenty of income. So, my only experience of the union adviser was not great.
    Originally posted by dunstonh
    Interesting comment.

    I had imagined that a Union intending to support its members would be referring them to an Independent Financial Advisor, but as you say they do not claim to be an IFA.
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
    • jamesperrett
    • By jamesperrett 6th Dec 17, 11:43 PM
    • 798 Posts
    • 433 Thanks
    jamesperrett
    • #6
    • 6th Dec 17, 11:43 PM
    • #6
    • 6th Dec 17, 11:43 PM
    My union also has a deal with them. I went to a seminar where they pushed things like trusts to avoid inheritance tax and also stock market related investments which were guaranteed not to fall in value (sorry I've forgotten the proper name for these). After reading things on here for a year or two, I felt the advice was a little outdated but the seminar did make me think about areas that I hadn't thought about before.
    • eddyinfreehold
    • By eddyinfreehold 7th Dec 17, 8:38 AM
    • 158 Posts
    • 117 Thanks
    eddyinfreehold
    • #7
    • 7th Dec 17, 8:38 AM
    • #7
    • 7th Dec 17, 8:38 AM
    Interesting comments and food for thought. Thank you all.
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