Financial Advisers

[DimPrawn]

If you transfer them out to another provider, the greedy fookers grab about 30% of you pot, if you leave them, they grow fook all.

This is why I think pensions (apart from gold plated final salary public sector ones) are pants, even with the tax clawback.

Too restrictive and too many greedy fookers (like Brown) wanting their slice.

[Shimano105]

If I could cash 'em in I would, believe me! Don't fancy paying someone to tell me that they are a crock either so I think I'll just forget about it.

[Ruprect]

Constant paradox with FAs I think - if they were any good they would be making a stack load of cash for themselves and wouldn't need to "advise". Ergo, they're not very good (and on commission) so you might as well make the financial decisions yourself.

[Gonzo]

Are there any that are legit?

I have an array of frozen pension schemes and such like that I would like to get sorted.

Of course I could ask the informed opinions of people on here, but I'd prefer not to deal with clueless, opinionated geeks. No offence of course.

I could also Google some advice, but the answer they nearly always give is 'consult your financial adviser'.

But how can you find one that isn't a Charlatan?

It depends what you mean by legit?

I think the rules changed a little in recent years, but certainly was the case that financial advisers were either tied to recommending the products of a single provider, or they were independent and were free to choose from the full range.

The tied agents would be employees of a particular bank (or similar) and would get paid according to the commissions deducted from your premiums. Therefore it was always in their best interest to sell you something expensive (not that they ever would of course ).

The independents could charge you for their time instead and rebate you all their commissions.

You might want to read up on this from the FSA:
http://www.moneymadeclear.fsa.gov.uk...al_advice.html

This website should enable you to find a local independent:
http://www.unbiased.co.uk/

[DimPrawn]

Anyway, who wants to be rich at the age of 60+?

You only need enough for a cosy cardigan, some slippers and some rubber pants.

[Mich the Tester]

I'm with you there Dim, just wondered if there's anything that could be done to double their value to a few more pennies.

Get them to print the policy documents on some swish watermarked paper.

[DimPrawn]

I'm with you there Dim, just wondered if there's anything that could be done to double their value to a few more pennies.

Yes. Cash them in and stick them on red or black at a casino. That's the only way they'll double in value.

[Shimano105]

I'm with you there Dim, just wondered if there's anything that could be done to double their value to a few more pennies.

[Shimano105]

Thanks, Svaal - but (not being funny here) how do I know that they are unbiased and trustworthy? This is the sticking point for me as I don't really trust any of them!

Surely anyone could profess to be unbiased?

[DimPrawn]

Are there any that are legit?

I have an array of frozen pension schemes and such like that I would like to get sorted.

Of course I could ask the informed opinions of people on here, but I'd prefer not to deal with clueless, opinionated geeks. No offence of course.

I could also Google some advice, but the answer they nearly always give is 'consult your financial adviser'.

But how can you find one that isn't a Charlatan?

Here's some free advice. Forget about your frozen pensions. They ain't worth tulip and never will be.


HTH

[Svalbaard]

Just an idea...

http://www.unbiased.co.uk/find-an-in...ncial-adviser/

[Mich the Tester]

Are there any that are legit?

I have an array of frozen pension schemes and such like that I would like to get sorted.

Of course I could ask the informed opinions of people on here, but I'd prefer not to deal with clueless, opinionated geeks. No offence of course.

I could also Google some advice, but the answer they nearly always give is 'consult your financial adviser'.

But how can you find one that isn't a Charlatan?

You mean you’re looking for a banker who isn’t a charlatan?

Good luck. When you’ve found him, tell 60 million friends.

[Shimano105]

Are there any that are legit?

I have an array of frozen pension schemes and such like that I would like to get sorted.

Of course I could ask the informed opinions of people on here, but I'd prefer not to deal with clueless, opinionated geeks. No offence of course.

I could also Google some advice, but the answer they nearly always give is 'consult your financial adviser'.

But how can you find one that isn't a Charlatan?