The Retirement Thread
11 lurkers |
160 watchers
7:24am
7:24am, 17 May 2024
18,977 posts
|
Mandymoo
I had a countdown at work but then there were only 4 of us in the office
|
7:37am
7:37am, 17 May 2024
382 posts
|
Dingbat
That's very disappointing Angus Clydesdale. My IFA was quite the opposite, he quickly realised I wanted advice not a sale so he gave me the advice, information and answers I needed. I've subsequently realised he gave some very good advice. I've got his details if I ever need his service again & since he did what I wanted last time I'll definitely use him in future. Not all financial advisors are failed used car salesmen! |
7:42am
7:42am, 17 May 2024
50,009 posts
|
HappyG(rrr)
Hi Dingbat - did you have to pay for that advice up front? Or do you only pay if you ask them to move your pension pots or anything else? Angus C, did you have to pay for the IFA you used (I've been told £2K to - £4K is how much you pay an IFA for pension advice) and didn't get the advice you paid for, surely you could take them to small claims court or something? That's terrible. I find this whole arena very confusing.  G
|
8:11am
8:11am, 17 May 2024
8,459 posts
|
um
I think almost any reputable IFA will give a free introductory session, if not, find a few that do. The advice should be genuine, and yes, it will have an element of 'this is what I can do for you', but also highlight or give general advice on what they don't need to do. And how they charge their fees. Remember both of you are probably looking for a decades long relationship. Unless it really is a short sharp specific pot or pension piece of advice. |
12:26pm
12:26pm, 17 May 2024
2,646 posts
|
MsG
I approached K's advisor and he ghosted me! After some back and forth, it became apparent that I understood some of the regulations better than he did (around using previous years contribution allowances, claw back and current/future year salaries). He didn't even have the courtesy to say he felt in reflection he couldn't help / wasn't appropriate. At least he didn't try to charge me. |
|
3:48pm
3:48pm, 17 May 2024
383 posts
|
Dingbat
I paid a one-off fee. There was an initial free conversation where I told him what I was after & he said what he could offer, then gave me a few choices with appropriate fees ranging from looking after all my pensions & investments for x% to annual reviews for £x per year to specific one-off advice for £y to generic advice for £z. I opted for the one-off advice to check my projected earnings would fund a 10 year early retirement and the best way to utilise my various funds / investments / DB & DC pots etc (this was what I thought I wanted from the outset & he happily agreed it was the best option for me). I got a range of cash flow forecasts based on likely expenditure, inflation, investment growth etc which confirmed my own spreadsheet was correct. He charged £1500 which was very good value for the peace of mind second opinion confirming my plans were realistic but critically his advice on using my various funds has saved me thousands in tax avoidance; his fee had a very short payback. My only regret was I didn't do it sooner |
JaksUseful Links
FE accepts no responsibility for external links. Or anything, really.- Money Helper
- How Much is Enough to Retire On?
- Retirement Living Standards
- How much will you need to retire?
- Free Govt website for pension advice
- SIPP pensions
- ISAs
- Check your National Insurance contributions
- Check your state pension account
- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
- Power of Attorney information
- Making the most of your retirement
- 20 tips for a happy retirement
- Married Couple's Allowance
- Aviva guide to retirement planning
- U3A
- U3A Local Sites - map
- Make a Power of Attorney
Related Threads
-
Any pension experts out there?
Sep 2022
-
Writing a will.
Nov 2022
-
Energy Bills
May 2024
-
Saving Money Tips
Aug 2023
-
Any benefit geeks can help me?
Mar 2023
-
Selling things
Feb 2023
-
Anyone here freelance or self-employed?
Jan 2024
-
Accounting Question
Oct 2017
-
How do I declare extra income to the HMRC when I've always been on PAYE?
Oct 2016
-
Home book keeping for the compleat Fetchie
Mar 2024
