Good Pension Advice for Contractors in North West

[ChrisPackit]

Can anyone recommend a good Financial Advisor in the North West who can go through Pension options with me? The couple who I have spoken to don't really deal with one man limited companies and are not familiar with all the schemes available to the like of us.

Would prefer to meet them face to face, that's why I'm suggesting North West.

Thanks

[pmeswani]

Can anyone recommend a good Financial Advisor in the North West who can go through Pension options with me? The couple who I have spoken to don't really deal with one man limited companies and are not familiar with all the schemes available to the like of us.

Would prefer to meet them face to face, that's why I'm suggesting North West.

Thanks

I can't recommend a financial advisor. But if you do look for one, find one that doesn't take commission on the product they recommend (other than the initial fee). However, I recommend searching the forum for pension and SIPP. SIPP is the best way to go. Some recommend SIPPDeal, some will recommend Hargreaves & Lansdown (including me), some will recommend other SIPP deals. I would suggest doing your own research on what pension is best for you than to rely on a financial advisor.

HTH (Usual disclaimer of IANAA or IANAL applies).

[moorfield]

This guy is good.


Apologies for that... but WHS. An IFA will in all probability setup something that is not really suitable for you and cream off a nice charge in the process.

In a nutshell: Sippdeal + Low Cost Tracker - if you really don't have the inclination or the time to research further.

[aceboy]

I have a friend who is an IFA in the North East, he may travel to you, i am seeing him on thurs evening, where in the NW are you??

[ChrisPackit]

Apologies for that... but WHS. An IFA will in all probability setup something that is not really suitable for you and cream off a nice charge in the process.


That's why I'm asking on this forum, to avoid the above situation

I'm based towards Wigan for the other chap who's shown some interest...

[lukemg]

WTAS - You need to take charge of this, I wouldn't touch an IFA.
Get on fool.co.uk and start learning how it all works.
I am combining ISA's with a SIPP from Hargreaves Lansdowne Hargreaves Lansdown | Best ISA & SIPP | Buy funds and shares. They get discounts off initial charges and some funds refund part of the annual management fees.
From a standing start you probably want trackers - LOWEST COST you can find (defo no more than 0.75%/year) - I believe vanguard do some good ones but you might have to go through Allianz to get access to them.
Any shares investment HAS to be long term 5years + and don't bottle it at the next dip, they will recover - look up pound-cost averaging for why regular investments can work well (some funds may only take lump sum though).
Option is also there to pay straight from LTD, but others will have to advise on this.
DYOR - it's too important to let someone else sort.

[pmeswani]

Apologies for that... but WHS. An IFA will in all probability setup something that is not really suitable for you and cream off a nice charge in the process.


That's why I'm asking on this forum, to avoid the above situation

I'm based towards Wigan for the other chap who's shown some interest...

Most IFA's are the same ChrisPackit. They will have a list of Pensions on their books, but they will ask you leading questions in order to qualify for one of the pensions they have on their books (preferably one that makes them the most money). What we are advising you to do is not go for an IFA, unless you want a crap pension pot and go down the route of a SIPP, which is by far the best option. We are saving you money and we are not gonna invoice you for it.

We are showing an interest, but if you want to go to an IFA regardless, then fair enough, and good luck.

[lukemg]

When my dad started to accumulate a small amount of spare dosh he was put in touch with an IFA who was apparently amazing. Chap chucked the lot at Japan which was booming at the time. Bubble burst and lost the lot.
That was the last time he trusted the decisions to anyone else.
That was some time ago and the markets are easy to access now. Go safe with Index trackers to start (small % in an emerging market tracker alongside UK/Europe/US won't leave you too exposed).
Make sure it's cash you won't need back short term, always use tax shelter - ISA or SIPP or both (no access till 55 although you can cash in/change the fund etc)
HOLD YOUR NERVE - can't emphasise this enough, been through a couple of recessions + dot com boom and holding on has proved the best option, although I haven't always kept buying during the dips which I should have !