DIY Pensions Advice for a Limited Company!
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  1. #41

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    Really useful and helpful stuff, just wishing I'd read it before having a review with IFA, I'm sure I'm not the only one.

    Have read fully, and also the links so much appreciated for this stuff. A bit annoyed with myself but I'm thinking not too late to salvage something so wanted a bit of advice if ok. I've already had a review, and if fairness it's been pretty useful with recommendations and makes sense. However the fees are hefty imo, around 4% first year, works out around 4k, then annually 0.5% which is in line with others, and on the face of it given my knowledge seems ok, until you realise how much it will be.

    I can back out before Thursday, but will still have to pay just under a 1k for the advice and review, seems harsh but I knew and agreed to it, but I'm thinking do I just go ahead for now, as I'll get the pension transfer, a decent looking fund and then can can the 0.5% once I'm a bit more savvy. Or just pay the 1k, use the info they've gathered and do it myself via II?

    Cheers

  2. #42

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    Quote Originally Posted by caigab View Post
    Really useful and helpful stuff, just wishing I'd read it before having a review with IFA, I'm sure I'm not the only one.

    Have read fully, and also the links so much appreciated for this stuff. A bit annoyed with myself but I'm thinking not too late to salvage something so wanted a bit of advice if ok. I've already had a review, and if fairness it's been pretty useful with recommendations and makes sense. However the fees are hefty imo, around 4% first year, works out around 4k, then annually 0.5% which is in line with others, and on the face of it given my knowledge seems ok, until you realise how much it will be.

    I can back out before Thursday, but will still have to pay just under a 1k for the advice and review, seems harsh but I knew and agreed to it, but I'm thinking do I just go ahead for now, as I'll get the pension transfer, a decent looking fund and then can can the 0.5% once I'm a bit more savvy. Or just pay the 1k, use the info they've gathered and do it myself via II?

    Cheers
    You just gave the answer there in the last line. Write off the GBP 1k as the cost of inexperience. It seems you have around GBP 100k to invest, making II a very good choice of platforms.

  3. #43

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    Quote Originally Posted by Fred Bloggs View Post
    You just gave the answer there in the last line. Write off the GBP 1k as the cost of inexperience. It seems you have around GBP 100k to invest, making II a very good choice of platforms.
    Cheers Fred I suspected as much, appreciate the reply.

  4. #44

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    St James's Place accused of misleading clients on costs

    This is blatant but expect it to be the same across all active fund providers, why do you think they charge a percentage of the total amount invested ?
    - Note they still want that pound of flesh if the value falls.
    - 2% doesn't sound much ? it does if you are averaging 5% return...

    All in, my investment costs are coming out at about 0.6% per annum, I still consider this to be ridiculously high and are a result of legacy investments that I keep but shouldn't. I reckon I can halve that figure easy if I started now.

    GLA

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    That's a great site. I stumbled across it a few years ago and hit up some vanguard LS stuff as I'm both lazy and clueless.

  7. #47

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    Quote Originally Posted by youngguy View Post
    That's a great site. I stumbled across it a few years ago and hit up some vanguard LS stuff as I'm both lazy and clueless.
    Don't be so hard on yourself...... You aren't lazy.
    'CUK forum personality of 2011' - Winner - Yes really!!!!

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    Quote Originally Posted by youngguy View Post
    That's a great site. I stumbled across it a few years ago and hit up some vanguard LS stuff as I'm both lazy and clueless.
    Probably the smartest money decision you will ever make...

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    Quote Originally Posted by lukemg View Post
    Probably the smartest money decision you will ever make...
    Let's hope so.....Early retirement is the goal!

  10. #50

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    Just a quick clarifying question as I can't seem to see the answer anywhere -

    The SIPP is in your own personal name and the contributions from your own limited company are "Employers Contributions" - correct?

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