MyFolio Active IV has a high equity allocation so should return the market.
Its for you to decide if that's worth it?
Just wondering was it Cornmarket that advised you on the Standard Life Myfolio fund? Curious.
Is there commission due as well?
Looks very expensive to me @cremeegg.
I bought a BOB a few years ago (Zurich) - 0.75% AMC, 100% allocation, no policy fees.
I personally wouldn't be wild about the MyFolio funds. If your goal is to simply achieve market returns, why not opt for the Standard Life Vanguard Global Index Fund?
I think it’s well worth calling it out any time this conversation comes up on AAM though, it took me a long time when looking for a pension to discover that you can get them “direct” without the advisor fee, pension advisors are not exactly incentivised to tell you this.but your 0.75% has no advisor trail as presumably you didn't want that service? If the original poster wants that service it will be dearer which is fine so we have to factor that in when comparing your policy to the one proposed.
I am transferring a UK pension fund to Ireland and a buy out bond has been advised.
The investment advised is in the Standard Life Myfolio Active IV fund. 100% allocation, 1.5% AMC and a monthly policy fee of €5.42. With the pensions adviser "remunerated by SL from within the AMC"
I am looking for a 15 year minimum investment in equities, hoping to achieve market return with low fees.
Does this meet the bill ?
Any comments or advice most welcome
I think it’s well worth calling it out any time this conversation comes up on AAM though, it took me a long time when looking for a pension to discover that you can get them “direct” without the advisor fee, pension advisors are not exactly incentivised to tell you this.
Not sure what cremeegg’s pension pot is like here, but if it’s €100k then going from 1.5% to 0.75% AMC would be a saving of €750 every year for 15 years, more as it grows in-fact. They could buy a lot of pension advisory services for that! If it’s €200k or €500k then that extra 0.75% fee is just insane IMHO.
All I can say is that while looking around for pensions, 1.25% AMC was common enough. I contacted the pension provider directly and now have the exact same pension setup at 0.75% AMC.You will deal with a tied agent who works for the life company. They will charge you instead of an advisor who can offer any contract on the market. Life companies rely on the broker market for their business. They are not going to undercut the broker market by offering cheaper contracts directly (although I work on the assumption that this will change at some point in the future).
It’s definitely personal choice and pensions are complex and big financial decisions.However that's all good if you know what your doing. most people don't and an advisor is essential and worth the 0.5%. I just hate when they don't disclose their fees and commissions!
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