Hi - Last year I paid a financial advisor to review my existing pensions (multiple old PRSA accounts & my current company pension). They recommended that I combine my old pensions & transfer my existing company pension to Zurich & specified the fund to use, the fees I should expect to pay, why it was better etc …….. I would be transferring approx. 350k & then would be continuing to contribute 2.5k per month into the company pension. Overall I was happy with the advice & felt this was a good service I received. My initial thought was that if I was going to follow the advice that I would set it up myself.
After I paid the financial advisor I then got a proposal from them offering to do all this for me. The proposal stated there would be no cost to me & it clearly listed the commission that they would receive for setting this up for me.
My question is
After I paid the financial advisor I then got a proposal from them offering to do all this for me. The proposal stated there would be no cost to me & it clearly listed the commission that they would receive for setting this up for me.
My question is
- Why would I use the financial advisor instead of doing this myself
- Is there any advantage to getting the financial advisor to do this for me or should I just contact the new pension company myself & say I want to transfer x, & expect the following fees
- I understand that I wouldn’t be paying the financial advisor’s commission for setting this up & there is no upfront cost to me but is there something that I am missing ?