Independant Financial Advisors

[sushimo]

Is there such a thing - as in Independant? I got bitten very, very badly about a decade ago and ended up losing a small fortune because the one I had recommended to me had affiliations and pushed me that way.

Now we are looking what to do with PPP's as they mature and we have no clue what to do for the best.

Any 'sensible' advice anyone?

[feral]

Any 'sensible' advice anyone?

Personally ,I think my advice would be very sensible but have a feeling you'd disagree .

[sushimo]

Go on Lady, try me!

[feral]

Weeell .Dont trust ANY financial advisor .They are in it because they wish to make money from your money so their own percieved advantages will always be uppermost in any decision they advice you towards
Second .Spend it on something you'd enjoy doing .Who knows what tomorrow might bring

[sushimo]

This is his pension, he has to convert it into a personal pension anuity for the rest of his life, plus a small lump sum now.

Just don't have a clue where to go, I know FIA's are all after their commisions, and I trust none of them to do the best deal for him.


Apart from that - your idea suits me fine!

[feral]

I quite honestly think then that it's a case of trusting your instincts.There really isn't much else that you can do.No predictions you can make with any certainty.In cases like that I find instinct to be the most reliable advisor .
If it smells too good to be true it will be sort of thing .

Ah feck .I wouldnt trust a financial advisor as far as i could throw one If they were that bloody good at it they wouldnt need to advice me what to do with my money

[yord]

you should be able to generate your own more profitably and faster than any advisor can do . You need them like you need a hole in your head

[yord]

and when theres really so much that you dont know what to do with it youve been doing too much for too long

[yord]

Financial Advisors lmao has there ever been such a bunch of useless pathetic parasitical idiots ever created

[sushimo]

Been checking out Martin Lewis's webpage, and found this:

Standard annuities. Here you trade in a lump sum of cash and receive a payment (which is taxed) each year for the rest of your life until you die – meaning no money is left from it for your dependants. The payment depends on the lump sum size, current annuity rates (which sadly have been dropping rapidly over the last 10 years) and how long the actuarial risk tables predict you're likely to live.

The longer your predicted lifespan, i.e. for non-smokers, those in better health, women, those cashing in pensions earlier, the less per year you'll get. Thus live longer than the risk tables think you will, and you're doing well, but don't live as long, and you've doubly lost.

Secured income. In April 2006 the ability to use your pension pot to draw down a taxed “secured income” up to the age of 75 was introduced. In other words you can take some money out of your pension pot each year and use it rather than buying an annuity, this leaves your pension intact so if you died it can be passed on to your dependants. The amount you can take out is limited though, so you don't blow it all at once on a Ferrari or helicopter spending spree

After age 75, you can buy an ‘Alternative Secured Income', which is similar except you can take less money out per year.

New types of annuity. There are now two new types of annuity. Limited-Period Annuities last for just five years, after which time you can buy another or a bog-standard lifetime annuity. Value-Protected Annuities will pay out any remaining pot to your heirs when you die, but produce a lower income than normal annuities.

Just take the cash. Anyone with a ‘trivial pension', where the total fund at retirement is worth less than £15,000, will be able to simply withdraw the cash, though only 25% of it will be tax free.


Hell, it's a bluddy minefield, I need a lie down in a dark room!

[sushimo]

May 13, 2009 10:20:32 GMT yord said:

Financial Advisors lmao has there ever been such a bunch of useless pathetic parasitical idiots ever created

Agree totally, amongst my most hated ever.

[yord]

we will tell you what to do with your money coz we are either too fecking stupid to have our own to do it with or have so little repect for what it can do for you thats its become just another worthless dream. What else is there

[yord]

Now if your prepaired to give it me , believe me no one will treasure it more . Every last penny will be duraglitted until it shines as much as a summer sun and we shall be parted only in the most drastic and dire set of circumstances

[feral]

Well, all that stuff you posted up in blue ,sushi sounds a right load of w*nk .All of it.It's all saying more or less ,give your money to us and we may give you some of it back sometime and if youre exceptionally lucky that may mean you end up with getting more back at some point. When you're too old to care one way or another.

Feck me .Especially that one that says the amount you get back is limited so you dont blow it all at once .

[feral]

May 13, 2009 10:33:34 GMT yord said:

Now if your prepaired to give it me , believe me no one will treasure it more . Every last penny will be duraglitted until it shines as much as a summer sun and we shall be parted only in the most drastic and dire set of circumstances

Till death us do part

[yord]

they are charlatons , ghosts of need , plunders of hope , not one of them knows moneys worth

[yord]

feck that , its coming with me

[feral]

Bout the only thing that will be you big nana

[sushimo]

It was all supposed to be so easy................................

[yord]

revel in its its wothlessness and its love is unconditional , for every one torn screaming from your soul it will return ten times over. A tide of cash , wave after glittering wave crashing onto your shore until it outnumbers the grains of sand your standing on , each last penny pleading and begging never to be parted from you again. Ohhhhhhhhhh how could you not love it