Could someone please explain to me what trailing commission is?
I have just discovered that a number of my single payment pension policies contain a "trailing commission of 0.5%" for the intermediary. The management charges on the same policies to the pension companies are 1.5% annually.
I don't have a problem with them getting a small amount, or even getting it again if I make a further lump sum payment into the policies, and it probably said that somewhere in the small print that I can't read as I do not understand financialspeak when I signed forms, but I did also pay a small advice fee at the time...
Not sure if this is normal or what the consequences are. Is this a good deal or a bad one? How do I tell?
Thanks for any advice. I would also like to know how you find out what funds your pension plans are invested in as it never seems to state this clearly on the statements that the companies send out. Do you just have to ring them all up and suffer their call centres? What is the correct financialspeak for asking this question when you do get through?
Imogen
I have just discovered that a number of my single payment pension policies contain a "trailing commission of 0.5%" for the intermediary. The management charges on the same policies to the pension companies are 1.5% annually.
I don't have a problem with them getting a small amount, or even getting it again if I make a further lump sum payment into the policies, and it probably said that somewhere in the small print that I can't read as I do not understand financialspeak when I signed forms, but I did also pay a small advice fee at the time...
Not sure if this is normal or what the consequences are. Is this a good deal or a bad one? How do I tell?
Thanks for any advice. I would also like to know how you find out what funds your pension plans are invested in as it never seems to state this clearly on the statements that the companies send out. Do you just have to ring them all up and suffer their call centres? What is the correct financialspeak for asking this question when you do get through?
Imogen