Pension From My Bank Natwest

[Bumfluff]

I went to see a pension advisor at Natwest where I have my personal account, is getting a pension through a bank like this a no-no ? I question it because they have been calling me up nearly every day now for 3 months trying to get me to sign even said they would come to my house, it makes me think Im about to be screwed and there is a lot more in it for them then me

******* Natwest Business Banking are sh*t also

[Gonzo]

I went to see a pension advisor at Natwest where I have my personal account, is getting a pension through a bank like this a no-no ? I question it because they have been calling me up nearly every day now for 3 months trying to get me to sign even said they would come to my house, it makes me think Im about to be screwed and there is a lot more in it for them then me

******* Natwest Business Banking are sh*t also

The most important thing to consider when investing pension money is the initial charges you get lumped with when you invest in their funds.

A tied adviser is unlikely to be in a position to offer you the best deal in my opinion, so I wouldn't ask for a bank advisor's advice on any financial product full stop.

They are salesmen(women) first and foremost, with the qualifications to be able to sell financial products, but still salesmen.

It is a seriously good idea to look at investing in a pension, but not through one of these people.

My low regard for them comes from 12 years ago when I worked in the customer services area of a fund management company and had to deal with their own tied salesmen.

[Bumfluff]

Cheers Gonzo, I thought that would be the case.

One day the guy from Natwest called me 8 times I wouldnt answer, they just seemed too keen. Problem is the guy manages my business account and personel account and I have to go through him for anything, it only came like this after I opened my business account, even if I want to close my accounts I need to do it through him, Im going to move to another bank. Problem is when you get these personal managers it all gets too personal I would prefer just to call a call centre to be honest.

[Ardesco]

Cheers Gonzo, I thought that would be the case.

One day the guy from Natwest called me 8 times I wouldnt answer, they just seemed too keen. Problem is the guy manages my business account and personel account and I have to go through him for anything, it only came like this after I opened my business account, even if I want to close my accounts I need to do it through him, Im going to move to another bank. Problem is when you get these personal managers it all gets too personal I would prefer just to call a call centre to be honest.

I got crap like this with Lloyds with them hassling me to take out a business loan for a few months. I just opened a new business account with Cater Allen. No problems at all with then and I can call them at 22:00 at night

[SueEllen]

Cheers Gonzo, I thought that would be the case.

One day the guy from Natwest called me 8 times I wouldnt answer, they just seemed too keen. Problem is the guy manages my business account and personel account and I have to go through him for anything, it only came like this after I opened my business account, even if I want to close my accounts I need to do it through him, Im going to move to another bank. Problem is when you get these personal managers it all gets too personal I would prefer just to call a call centre to be honest.

Easiest way to get rid of telesales people (and yes I did that great job for a bit years ago) it to politely tell them your not interested in away that shows you know a lot about the subject i.e. I've considered all my options, consulted an independent financial advisor and am taking a pension out elsewhere.

If that doesn't work just tell him you are considering moving your banking elsewhere because he personally is hassling you.

[Ardesco]

Easiest way to get rid of telesales people (and yes I did that great job for a bit years ago) it to politely tell them your not interested in away that shows you know a lot about the subject i.e. I've considered all my options, consulted an independent financial advisor and am taking a pension out elsewhere.

If that doesn't work just tell him you are considering moving your banking elsewhere because he personally is hassling you.

I usually deal with telesales people by trying to sell them some web hosting. Can be quite amusing listening to them desperatly trying to sell to you as you hard sell back in the same way. I've had a marked reduction in telesales calls since I started this method of dealing with them.

The funniest is the Indian call centres who just don't know what to do or how to deal with the situation

[SueEllen]

I usually deal with telesales people by trying to sell them some web hosting. Can be quite amusing listening to them desperatly trying to sell to you as you hard sell back in the same way. I've had a marked reduction in telesales calls since I started this method of dealing with them.

The funniest is the Indian call centres who just don't know what to do or how to deal with the situation

Unfortunately I don't get telesales calls anymore.

[r0bly0ns]

Cheers Gonzo,One day the guy from Natwest called me 8 times I wouldnt answer, they just seemed too keen. Problem is the guy manages my business account and personel account

If someone managing my accounts was acting in this way I would write a letter to their boss asking for a new account manager and detail why.

[Bumfluff]

Just found out from them today as well that if you open a Business account with them they offer you two years free business banking, however as a result of taking the free business banking you lose the right to interest on your Credit balance but if you pay fees you get interest, what kind of deal is that ! Apperently I was getting free banking and interest in 'error' upto a couple of months ago, then in Dec I was due interest of approx £200 and never got as I had free banking, if I had paid the charges it would of been only about £60 the same period so Im out of pocket £140. Anyway **** them Ive just applied for a Cater Allen account and will be moving my persy account.

Also told the guy he had been hounding me he seemed quite upset Thing is this guy isnt telesales he is my portfolio manager apperently looking after my persy and business account, if I want anything looked at on these accounts I have to go through him, so your reluctant to pi** him off, shouldnt be like that.

Rant over

[lukemg]

Jesus, can barely believe this thread - cut the t0ssers loose and head for Cater Allen if you generally have a few k stashed.
You can easily setup another personal account. IMHO you would be very unlikely to do well with a pension through these people.
Try www.H-L.co.uk, look at SIPP's - they have a number of multi-manager funds with low costs which you will not have to actively manage and are geared up for various approaches - e.g. 30 years to retirement, you can take a few more risks, 5 years - head for a v.careful approach.
Read www.fool.co.uk also. You need to take full control of all your financial arrangements, it isn't rocket science to get some basics and it could be worth thousands, invest some time in getting the knowledge !!