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  • FIRST POST
    • Twointhebush
    • By Twointhebush 10th May 18, 8:13 AM
    • 20Posts
    • 1Thanks
    Twointhebush
    Switching SIPP from Advisor Run to DIY?
    • #1
    • 10th May 18, 8:13 AM
    Switching SIPP from Advisor Run to DIY? 10th May 18 at 8:13 AM
    Last minute (just before the end of the tax year) I paid an advisor a one off fee to set up an Aviva SIPP for me. Now I know a bit more about it, I'm debating with myself whether or not to sign up with him - I have the forms but haven't actually signed. But I see from viewing my online platform that he is already named as my advisor, and that I have to go through him if I want to make payments. Is it a simple matter of asking Aviva to change this so that I can make payments myself? Or have I inadvertently agreed to a contract? Would they charge me?

    Thanks,
Page 1
    • Spreadsheetman
    • By Spreadsheetman 10th May 18, 8:20 AM
    • 74 Posts
    • 51 Thanks
    Spreadsheetman
    • #2
    • 10th May 18, 8:20 AM
    • #2
    • 10th May 18, 8:20 AM
    Some platforms are advisor-only and won't let you self-manage. You need to find out what the product is. I wouldn't have thought it would be terribly difficult to move it though (e.g. to HL or similar).
    • Twointhebush
    • By Twointhebush 10th May 18, 8:23 AM
    • 20 Posts
    • 1 Thanks
    Twointhebush
    • #3
    • 10th May 18, 8:23 AM
    • #3
    • 10th May 18, 8:23 AM
    Ok, this looks as though it must be advisor only. I had an inheritance and paid half of it into this pension and need to pay the other half in this year - I don't think I need an advisor to do that. If I communicate with Aviva, does my advisor get informed?

    Thanks,
    • dmelife
    • By dmelife 10th May 18, 8:38 AM
    • 38 Posts
    • 49 Thanks
    dmelife
    • #4
    • 10th May 18, 8:38 AM
    • #4
    • 10th May 18, 8:38 AM
    You can tell Aviva to remove the adviser, then move to another non-advised product. Your adviser will see anything you do. Perhaps chat to them and share your concerns.
    • cloud_dog
    • By cloud_dog 10th May 18, 11:31 AM
    • 3,686 Posts
    • 2,185 Thanks
    cloud_dog
    • #5
    • 10th May 18, 11:31 AM
    • #5
    • 10th May 18, 11:31 AM
    Ok, this looks as though it must be advisor only. I had an inheritance and paid half of it into this pension and need to pay the other half in this year - I don't think I need an advisor to do that. If I communicate with Aviva, does my advisor get informed?

    Thanks,
    Originally posted by Twointhebush
    Afraid I am unsure how the process would work regarding removing advisers etc (any IFAs out there???). I assume you entered in to a contract and if this agreement didn't involve any ongoing advise then there should be less of an issue.

    If you wanted to use the Aviva offering which is only available to advised clients you could look at utilising Cavendish (for a one off set up fee 35 or 40), see here and click on personal or stakeholder (depending on what you have/want).

    EDIT: Going this route will mean lower annual charges than if you took out the same as an individual.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • dunstonh
    • By dunstonh 10th May 18, 12:06 PM
    • 92,577 Posts
    • 59,885 Thanks
    dunstonh
    • #6
    • 10th May 18, 12:06 PM
    • #6
    • 10th May 18, 12:06 PM
    IIRC, Aviva have a DIY platform and an advised platform. The DIY platform is cut down from the advised one. The advised platform needs an adviser to do the top ups.

    The old Aviva products (PPP/SHP) are more expensive than the platform. So, whilst the adviser charge would be removed, the annual product/fund charges would be higher.

    using an intermediary provider when you want to DIY can be very messy and have a number of blockers. Including complete refusal to accept DIY instructions. If you want to DIY then transfer it to a DIY provider.
    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.
    • Twointhebush
    • By Twointhebush 10th May 18, 12:39 PM
    • 20 Posts
    • 1 Thanks
    Twointhebush
    • #7
    • 10th May 18, 12:39 PM
    • #7
    • 10th May 18, 12:39 PM
    Alternatively, could I have both advised and DIY platforms. One for areas where I think I don't need advice and one where advice would be beneficial?
    • dunstonh
    • By dunstonh 10th May 18, 1:06 PM
    • 92,577 Posts
    • 59,885 Thanks
    dunstonh
    • #8
    • 10th May 18, 1:06 PM
    • #8
    • 10th May 18, 1:06 PM
    You can have as many pensions as you like.
    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.
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