View comments by: Most Recent - first / last | Most Popular - first / last | Replies - hide / show

Independent Financial advisors

I wonder if anyone of the forum has experience of dealing with financial advisors in connection with their pension schemes after retirement? I have recently spoken to an IFA concerning my pension schemes and he has outlined his services and the fees associated with them.


Unfortunately, I am still unclear how these can benefit me. What is your experience? Has working with an IFA benefitted you and if so, how? Regards, Chris


Created By on 25/09/2023

Not a member?

You need to be a member to interact with Silversurfers. Joining is free and simple to do. Click the button below to join today!

PurpleHat
31st Oct 2023 21:57:45
0
Thanks for voting!
It depends whether your Pension pot is full enough to seriously interest an Advisor. Mine was not extensive enough to warrant the expense of paying for advice which is usually based on the amount of the funds involved usually a percentage. There is an excellent and informative Pension advice booklet published free from HM Gov .which outlines your options and may help you decide your best Course. I, personally went down the course of a SIPP ( self-invested Personal Pension) managed by one of the well-known and respected Financial Management platforms, such as Fidelity, Hargreaves Lansdown etc .where you can retain some control over your finances, taking a variable monthly income from Dividend earnings paid into your bank, but not a set amount. withdrawing some Capital if necessary and easing inflationary consequences. These people charge management fees, but publish a great deal of helpful information on investing sensibly for your circumstances which is free if you have the time and patience to study it. Look out for the financial articles in newspapers and magazines. for what is on trend. Just do your research and do not put your eggs in one basket or sector.
ReportAdd a Comment Reply to PurpleHat

Community Terms & Conditions

Content standards

These content standards apply to any and all material which you contribute to our site (contributions), and to any interactive services associated with it.

You must comply with the spirit of the following standards as well as the letter. The standards apply to each part of any contribution as well as to its whole.

Contributions must:

be accurate (where they state facts); be genuinely held (where they state opinions); and comply with applicable law in the UK and in any country from which they are posted.

Contributions must not:

contain any material which is defamatory of any person; or contain any material which is obscene, offensive, hateful or inflammatory; or promote sexually explicit material; or promote violence; promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age; or infringe any copyright, database right or trade mark of any other person; or be likely to deceive any person; or be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence; or promote any illegal activity; or be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety; or be likely to harass, upset, embarrass, alarm or annoy any other person; or be used to impersonate any person, or to misrepresent your identity or affiliation with any person; or give the impression that they emanate from us, if this is not the case; or advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.

Nurturing a safe environment

Our Silversurfers community is designed to foster friendships, based on trust, honesty, integrity and loyalty and is underpinned by these values.

We don't tolerate swearing, and reserve the right to remove any posts which we feel may offend others... let's keep it friendly!