How much does pension advice cost?
You see the charge for pension advice in pounds before anything is arranged.
You see the charge for pension advice in pounds before anything is arranged.
Pension advice is charged as an agreed fee or as a percentage of the amount invested or transferred, and ongoing advice is a separate charge you can stop. Whichever applies, you should see the charge in pounds before you proceed.
The advisers for this subject: Sunny Bharj and Tony Springer
A stated amount for a stated piece of work, fixed or hourly. The easiest kind of charge to compare between firms.
Our charge may be calculated as a percentage of the amount invested or transferred. We will show you the actual charge in pounds before you proceed.
Optional, and you can stop it. Ask what it includes: a review meeting, rebalancing, tax-year planning, a person to call when something changes.
Advice on transferring a defined benefit pension is charged in the same ways. Since 1 October 2020 the FCA has banned contingent charging on this advice, so the adviser charges the same amount whether or not the recommendation is to transfer.
Narrow exceptions apply for people in serious ill health or serious financial difficulty.
Ask any firm, including us, for the annual cost in pounds on the amount you hold, with the adviser charge, the platform charge and the fund charges shown separately.
The first conversation and the health check are at no cost to you. Some advice is paid for by a fee. For some investment and pension advice, our charge may be calculated as a percentage of the amount invested or transferred. We will explain how we are paid and any fee before you proceed.
By law only for safeguarded benefits worth more than £30,000, such as a final salary pension. Other pensions can be moved without it.
Read the answer →A deferred pension keeps its guarantees after you leave the job. Ask the scheme what it will pay you before you look at the transfer value.
Read the answer →You can, and 25% normally comes out free of tax. Taking taxable income cuts what you can pay back in to £10,000 a year.
Read the answer →Ask for the annual cost in pounds on the amount you hold.
It depends on the scheme and the work involved, and you see the charge in pounds before you proceed. The charge is the same whether or not the advice is to transfer.
It depends on the amount and the work. On a small portfolio a percentage is often cheaper than a fixed fee; on a large one the reverse is frequently true. Compare them in pounds.
Where there is an agreed fee for the work, yes, because the work was done. Where advice is paid for by commission, no commission arises.
Yes, and the same goes for the health check that follows it. You are told what any further work is, what it costs and what it should achieve, and you are free to say no.
The price is agreed before any work that is charged for begins.
Independent Financial Adviser
Independent Financial Adviser
Your first call is with an Account Manager and is at no cost to you. Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write.