Mainly UK financial advisory firms

[Zambo]

There are some well known "financial advisors" in the region. Are any useful at all:

Devere Group in various forms

Holborn Assets

Hoxton

Brite Wealth Management

AAM Advisory

Portsmouth Mann (maybe now defunct)

IIMG Limited

I guess the total number is 2 x this. But how to avoid companies that line their pockets with commissions for initial investments or charge annual fees that range from a reasonable 1.5% to a crippling 7 or 8% that any investment cannot support.

The best approach is just to ignore them, but some investments such as UK private pensions do need advice.

Anybody got knowledge to rank the dubious characters from worst to top class?

[Lemondropkid]

I managed to switch my company pension(defined contribution) from a Company Scheme to run it privately without seeking financial advice

Sure I answered to questions, have to you consulted a financial advisor as "Yes" but didn't have to give any proof

There's no way on earth I'd hand over a % to an investment advisor.

If absolutely forced to I'd use Nutmeg, £575 flat fee. No ongoing cost

https://www.nutmeg.com/guidance/financial-guidance/retirement-planning-and-advice

[Zambo]

13 minutes ago, Lemondropkid said:

I managed to switch my company pension(defined contribution) from a Company Scheme to run it privately without seeking financial advice

Sure I answered to questions, have to you consulted a financial advisor as "Yes" but didn't have to give any proof

There's no way on earth I'd hand over a % to an investment advisor.

If absolutely forced to I'd use Nutmeg, £575 flat fee. No ongoing cost

https://www.nutmeg.com/guidance/financial-guidance/retirement-planning-and-advice

That's very interesting.

[Zambo]

9 hours ago, Zambo said:

That's very interesting.

I was enjoying a couple of beers yesterday evening which is why i replied "that's very interesting" which indeed it is.

My understanding is that a UK private pension can be moved out from the UK but for tax reasons it must be transferred as a QROPS (Qualifying Recognised Overseas Pension Scheme). That results in the funds being in Gibraltar, Malta, Channel Islands or elsewhere. Not sure if this can be avoided, but the fees are relatively low and this is rarely an issue (except how your wife gets the money if you inconveniently die first)

Next is the investment of the money. That is where these wealth management / financial advisers appear.

[Lemondropkid]

7 hours ago, Zambo said:

My understanding is that a UK private pension can be moved out from the UK but for tax reasons it must be transferred as a QROPS (Qualifying Recognised Overseas Pension Scheme). That results in the funds being in Gibraltar, Malta, Channel Islands or elsewhere. Not sure if this can be avoided, but the fees are relatively low and this is rarely an issue (except how your wife gets the money if you inconveniently die first)

OK, my pension is stil  in the UK. Good that for your circumstances you have tracked down  flat fee advice.

Given the way technology is now, even going to be you'd be better of geting the "advice" from a robot rather than paying 1.5&%, let alone the eye watering high rates