Stumbled across this bloke recently. I think there's a lot of sense in his collection of short advice videos (other IFAs may differ on that) but it does highlight some planning considerations that might not otherwise occur. I'd regard this as a starter to help organise thoughts before speaking directly to a professional, but I've found the three or four I've watched so far to be interesting.
Owch - it looks like the gains from the past two years might be eroded with some heavy heavy drops over the past two weeks. @golfaddick...did you change much in your approach to 2022, considering the new global and economical factors likely to hit hard?
Owch - it looks like the gains from the past two years might be eroded with some heavy heavy drops over the past two weeks. @golfaddick...did you change much in your approach to 2022, considering the new global and economical factors likely to hit hard?
I must admit I've not attended any investment presentations since early December so I'm not quite up to speed on what investment managers are thinking. Saying that, I don't think too much has changed since xmas & although markets have been up & down lately I havent see too much to get me worried.
Owch - it looks like the gains from the past two years might be eroded with some heavy heavy drops over the past two weeks. @golfaddick...did you change much in your approach to 2022, considering the new global and economical factors likely to hit hard?
Its currently tech dragging the markets down. Trouble is, as I’ve often pointed out, if you hold the popular growth funds, you hold more tech than you are probably aware of. The FTSE100 held up better than most global indices today because it has very little tech.
Looking for IFA now I’ve just turned 54 as Golfie advised before but I’ve held off to now as I plan to look at transferring into a drawdown. Which I couldn’t do to 55
I’ve got 2 Frozen pensions £110000 with prudential and £34000 with Aviva which has apparently got 4% guaranteed yearly bonus.
Then my work Penision I’m paying into now with prudential. But this only been going 2 years since they froze the previous one because it was outdated.
I want to take 25% of my prudential pot or around £25000 next year at 55 hen transfer the rest into the Aviva pension or a new drawdown pension and start paying into it.
So I’m looking for an advisor have been looking on unbiased.
Looked at 3 firms from there recommendations 1) True potential wealth management but they are not totally independent 2) Fairstone financial 3) arlo Group
Has anyone had experience with these companies or can recommend someone I’m in Yorkshire so unfortunately out of your area golfie.
I tried to check them on the FCA website but could not get any results Thanks in advance for any advice or recommendations
Not heard of any of them. Just moved my pensions to Royal London via an IFA. Showed me a number of options but Royal London was ok with both of us. Charge is 0.4%pa. Can take drawdown when I want but no need to now. Not taking 25% tax free now as don’t need the cash.
Sorry, never heard of any of them - I'm sure Golfie can do Zoom etc!?
I think I'm right in saying once you take 25% you'll be restricted to paying in a maximum of 4k a year into pension.
Not true. As long as you only take the 25% tax-free lump sum then you can continue paying into workplace schemes and/or a private pension. Its just if you take more than the 25% you are then restricted to £4k pa.
Not heard of any of them. Just moved my pensions to Royal London via an IFA. Showed me a number of options but Royal London was ok with both of us. Charge is 0.4%pa. Can take drawdown when I want but no need to now. Not taking 25% tax free now as don’t need the cash.
I've often used Royal London for this same reason. Their charging structure means that you shouldn't be paying anymore than 0.45% as long as you stick to their funds - or use their Governed Portfolios, which are risk rated and very popular.
Looking for IFA now I’ve just turned 54 as Golfie advised before but I’ve held off to now as I plan to look at transferring into a drawdown. Which I couldn’t do to 55
I’ve got 2 Frozen pensions £110000 with prudential and £34000 with Aviva which has apparently got 4% guaranteed yearly bonus.
Then my work Penision I’m paying into now with prudential. But this only been going 2 years since they froze the previous one because it was outdated.
I want to take 25% of my prudential pot or around £25000 next year at 55 hen transfer the rest into the Aviva pension or a new drawdown pension and start paying into it.
So I’m looking for an advisor have been looking on unbiased.
Looked at 3 firms from there recommendations 1) True potential wealth management but they are not totally independent 2) Fairstone financial 3) arlo Group
Has anyone had experience with these companies or can recommend someone I’m in Yorkshire so unfortunately out of your area golfie.
I tried to check them on the FCA website but could not get any results Thanks in advance for any advice or recommendations
I've heard of True Potential as I think they joined the Network I'm with. Probably not "truly" independent as many Network firms want to keep Compliance to a minimum & so "Restrict" the advisers to a limited number of providers & funds.
No idea of the other 2 but that's probably because I imagine they are 'op North...😄.
I'm happy to help @Showmetheway2gohome and as someone said, lots can be done by Zoom and via email/mobile, but I appreciate that you might want someone closer to home or to sit and talk face-to-face.
Looking for IFA now I’ve just turned 54 as Golfie advised before but I’ve held off to now as I plan to look at transferring into a drawdown. Which I couldn’t do to 55
I’ve got 2 Frozen pensions £110000 with prudential and £34000 with Aviva which has apparently got 4% guaranteed yearly bonus.
Then my work Penision I’m paying into now with prudential. But this only been going 2 years since they froze the previous one because it was outdated.
I want to take 25% of my prudential pot or around £25000 next year at 55 hen transfer the rest into the Aviva pension or a new drawdown pension and start paying into it.
So I’m looking for an advisor have been looking on unbiased.
Looked at 3 firms from there recommendations 1) True potential wealth management but they are not totally independent 2) Fairstone financial 3) arlo Group
Has anyone had experience with these companies or can recommend someone I’m in Yorkshire so unfortunately out of your area golfie.
I tried to check them on the FCA website but could not get any results Thanks in advance for any advice or recommendations
I swung my 2 x private pensions and my ISA over to True Potential about 18 months ago and have been very happy with the service, web portal and the most important one of all, the growth.
I was with AEGON up to the point of transfer who were also good but the last 18 months have proved the switch was a good move.
Not heard of any of them. Just moved my pensions to Royal London via an IFA. Showed me a number of options but Royal London was ok with both of us. Charge is 0.4%pa. Can take drawdown when I want but no need to now. Not taking 25% tax free now as don’t need the cash.
I've often used Royal London for this same reason. Their charging structure means that you shouldn't be paying anymore than 0.45% as long as you stick to their funds - or use their Governed Portfolios, which are risk rated and very popular.
The IFA suggested a Governed Portfolio and I completed a risk profile to pick the right one. I don’t have the time or inclination to keep reviewing the markets so the IFA will do it for me on a regular basis. Their online portal is good, something other providers fail at.
What after moving annoyed me was that my previous pension providers failed to produce closing statements showing how the final calculations were made. My IFA said the providers rarely do so!! It’s worse than paying off a mortgage and not being given a closing statement. I won’t let this rest and my IFA won’t either.
Hi Golfie with covid it’s changed and the 3 I’ve made contact with haven’t suggested face to face meetings so I guess it doesn’t matter Your in southeast and I’m in Yorkshire.I do still come down at least once a year to visit family and go to the valley. Be glad to talk to you and have some advise.
Can one of you guys who work in the City tell me what on earth is going on with the Experian share price? Huge falls for the last few days, down 10% this week and all for no reason that I can see.
Can one of you guys who work in the City tell me what on earth is going on with the Experian share price? Huge falls for the last few days, down 10% this week and all for no reason that I can see.
It's a company share repurchase programme - commenced on 1 January and ends today.
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
I don't think interest rates have much to do with the value of banking stocks tbh.
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
I don't think interest rates have much to do with the value of banking stocks tbh.
Was always led to believe profit margins were better as rates rose - possibly a myth.
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
I don't think interest rates have much to do with the value of banking stocks tbh.
Was always led to believe profit margins were better as rates rose - possibly a myth.
You're quite right, interest rates have a huge effect on banking stocks.
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
I don't think interest rates have much to do with the value of banking stocks tbh.
Was always led to believe profit margins were better as rates rose - possibly a myth.
You're quite right, interest rates have a huge effect on banking stocks.
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
I don't think interest rates have much to do with the value of banking stocks tbh.
Was always led to believe profit margins were better as rates rose - possibly a myth.
You're quite right, interest rates have a huge effect on banking stocks.
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.
Yup. And, as far as I know, not one major bank or building society has yet raised its savings rates in response to the last interest rate rise even though their mortgage rates were put up straight away!
Most of the banking stocks up around 50% over the last year - are they worth continuing to hold? Presumably interest rate rises will have an effect....
I don't think interest rates have much to do with the value of banking stocks tbh.
Was always led to believe profit margins were better as rates rose - possibly a myth.
You're quite right, interest rates have a huge effect on banking stocks.
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.
Yup. And, as far as I know, not one major bank or building society has yet raised its savings rates in response to the last interest rate rise even though their mortgage rates were put up straight away!
Comments
( Actually I'll drink to anything....:-) )
1)
True potential wealth management
but they are not totally independent
2)
Fairstone financial
3)
arlo Group
Thanks in advance for any advice or recommendations
I think I'm right in saying once you take 25% you'll be restricted to paying in a maximum of 4k a year into pension.
No idea of the other 2 but that's probably because I imagine they are 'op North...😄.
I'm happy to help @Showmetheway2gohome and as someone said, lots can be done by Zoom and via email/mobile, but I appreciate that you might want someone closer to home or to sit and talk face-to-face.
I was with AEGON up to the point of transfer who were also good but the last 18 months have proved the switch was a good move.
As they go up, they can make wider interest margins between what they borrow and lend, which boosts net interest margin (NIM), one of the most important valuation metrics for a bank. The reason they are struggling to make money is that NIMs have been narrow for so long, they struggle to cover operating costs and credit risk and still make a profit.