pension intermediary

[sheelagh]

i am about to cash in my pension fund, valued at €145,000-00.
I am informed that my sales/intermediary will receive approx.€3000-00.
As I havent had contact with these people for years, why are they getting so much money?
Can I get it instead?
advice welcome-this only happens once in a lifetime!!!!!!
Sheelagh

 

[S]

Can I get it instead?

Get all the advice you can for free. Then go to an execution only broker and save on all that commission!!!

S

 

[sheelagh]

thanks for your reply-where do I find an "execution only broker"? will this person charge a fee?
sheelagh

 

[rainyday]

Hi Sheelagh - Try Liam Ferguson or MyAdviser - Most execution-only brokers will charge a once-off fee for setting up such policies, but I'd guess that this would be considerably less than the commission that you mentioned above.

Note that 'execution-only' means just that, i.e. they will setup the policy for you but will not be giving you advice. So you should prepare to know exactly what you want before you get these guys. Feel free to post further questions here to help you to prepare.

 

[MyAdviser]

avoiding commission

Rainday thanks for the mention.

It is possible these days to get independent professional advise and execution of a nil commission contract at low fees as well as execution only services. I have found that once you show people the charges and investment trackrecord they can fairly well work out the best provider for themselves. Others do noeed advise.

Regards Michael Kiernan
Authorised Advisor & Discount Broker
www.myadviser.ie