6 Things You Should Know BEFORE You See A FINANCIAL ADVISER
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- เผยแพร่เมื่อ 20 มิ.ย. 2024
- I’ve spent more than ten years on this channel trying to equip people to organise their own finances so that they don’t need a financial adviser. But there’s definitely value for some people on some occasions to seek professional financial advice.
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00:00 Welcome
00:24 Intro
00:34 1. Know your objectives
01:48 2. Know your current situation
02:39 3. Your initial discussion should be free of charge
03:30 4. Understand fees
06:07 5. Restricted or independent
07:14 6. Qualification and authorisation
08:19 Summary
08:52 Conclusion
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Just stopped paying for ongoing advice. Was costing £1000 per month for a meeting lasting an hour once a year! Took me 7 years to waken up!!
My husband retired seven and half years ago, I retired five years later also at age 62. We haven’t touch a dime of our retirement savings till date, We are having zero issues living on nothing more than our Social Security, What's our secret? It’s Simple….
We retired debt-free, Just remember it matters more how much you own than it does how much you have, It's a simple plan, Take care of your debt before you retire and eliminate money worries after retired and that is were Cynthia MCclure Alexander as a financial planner comes in to make life comfortable for you after retirement.
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What a massively useful video. Many thanks. Just got an inheritance and seeing a financial advisor. Now I know what to ask!
Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This TH-cam channel is really very informative and effective.
Retiring in 2 yrs and looking to change my advisor who is associated with a bank/brokerage firm. I need someone who will do estate planning, 407 conversion and maximize our social security. This was very informative
Damn good video. Very helpful. Watching from SA and most of it is applicable.
Top advice Pete, especially points 4 & 5. Thank you !
Very welcome, glad it was useful!
The advisor I saw in the initial meeting just wanted to sell me an ISA and pension with the company she was affiliated with and charge me 4k for the privilege of setting them up. She didn't even give me a reason for wanting to set up a new pension when I asked why I shouldn't just transfer my old pension to my current workplace pension, which was much cheaper. Needless to say I didn't hire her, and I'm now very cautious when it comes to advisors. I learned very quickly the questions you listed are paramount. I set up my own S6S ISA in the end, with a few very cheap globally diversified ETFs and no platform fees. I will seek further advice on transferring my pension - with a different advisor 😀
Well said 👍🏻
I already hit the subscribe button!! hands down one of the BEST TO THE POINT videos I have seen thank you! I am seeing a financial advisor soon!!
Im very grateful - thank you the kind words! 🙏🏻👊🏻👍🏻
Many thanks. Very helpful advice.👍🙂
I’m glad, Oliver. Thanks for watching! 👍🏻🙏🏻
Toby Newbatt brought me here, and I am forever grateful!! I am a mom to a toddler, 37, and have no clue about how to build financial wealth. Here to learn all that I can, so I can give my child a brighter future that will be secure for him and his needs.
Thank you, very helpful
I’m glad, Rosa 👍🏻
Fantastic advice, thanks.
Glad it was helpful - thank you for watching...👍🏻
This is very Helpful!
Excellent. I’m glad!
Thanks!
You’re welcome, thank you!
Without question this is fantastic advice. 👍
Glad you think so, Martyn!
Hi Pete, thank you for this fantastic video. My financial planner has recently retired and his son has taken over his clients. His son has offered a telephone consultation (which I probably would have had with his dad if he hadn't retired as I am due an annual review). Do you think a face to face is better for the first consultation, as I have never met him and should I pay for this? Thank you so much.
Great Vid ! I just moved all my $ to Fidelity (IRAs, 401k's-wife and me, savings). It's great to have it all in one place. I then went to see my Fidelity Advisor in his office. He checked over my IRAs & 401k and he said that he saw no red flags. Basically, to keep doing what I'm doing. I believe they work on salary which keeps my mind and at ease. BTW I'm 60. Thanks Jeff
As an Australian Financial Adviser I found this video refreshing. Our industry has been going through many legislative changes over the past few years with a very strong focus on creating a much broader standard of delivering what a professional advice service should be. We lack many videos or clear communication to the public as we are a good 10 years from the UK, where the perception is we provide lucrative advice to make people rich but also rip people off. I feel that no one knows what we do and when we explain the service, ideal client types and what advice looks like today, people are shocked and had no clue. The idea of trying to be everything to everyone is fading though.
Time to start shouting videos for the Australian public, @CR?!!! You could make the difference in changing perceptions…
Good advice - I'd probably throw in (alongside SPS and restricted/indy) checking the firm/advisor on the FCA register (see if they're legit, history, if the firm is restricted etc.).
I'd disagree with the indy / restricted point, as I can see positives and negatives for both, however the overall point of doing due diligence is the key message, thanks for the vid!
Cheers Rhys - thanks for being here! I can't believe I forgot about the FCA register, although this is not the resource that it used to be...
Restricted v. independent - is very important. I am currently helping a family member get shot of SJP - a large chunk of the gains went in fees for recommending their own products. The new independent financial adviser will cost 5k a year, compared to 30k a year. That is not a typo, really 30k per year. So a saving of 25k and independent advice.
It's not to say that restricted = bad, far from it, but I do think independence is the gold standard still... SJP are notorious for their charging, as you know... Doesn't make them bad advisers, I know some superbly gifted SJP partners, but it surer doesn't make them cheap!
Thanks for such a detailed video. Am in RCN and took the offer of a free first consultation with an advisor. Wanted advice about nhs pension and private pension. Basically said keep nhs pension. Which I had already told him would do and that was it. Been at a loss since with regards to savings and pensions. The information you put out has been amazing. Thank you for showing what I should expect from FA and pointers about pensions, savings and investments. I really appreciate it.
Glad to have you with us - thank you for the encouraging words. Good luck! Pete M
For step 2, is that as part of the initial contact (step 3) or afterwards? My gut reaction to providing such detailed information about my accounts & policies without having officially engaged their services (payments, contracts, etc.) is distrust. (I totally get the advice of not being "cagey" once the relationship is established.)
Great info would be good to see what would be a reasonable fee and what would be a high fee. Cheers
I went to an advisor in sheffield. Gave me bad advise on how much my pension was worth and would not tell me what, or even how he was going to charge us. In the end he said he could not help us. Feel this was a lucky escape
Great advice as usual. My biggest fee in retirement is being scammed. For this reason I would look to have an annuity. When I’m nearer retirement I might just we’ll get in contact with you for financial advise.
I understand that fear - there are many scammers about. Generally speaking, look for regulated advisers, ideally Chartered Financial Planners and you should reduce that risk significantly.
Hey Pete! Love your contents. Keep it up. I was just wondering if an individual financial adviser helps out with all aspects of investments, insurances, and mortgages / loans OR does one need to go larger firms or different places to get help with each of the aspects? Thank you very much.
Slasher, in the US, Investment Advisor usually handles investments only. Financial Advisor or Wealth Manager usually handles holistic financial perspective for the client including investments, retirement income, cash flow, risk management (insurance), estate, and tax planning. Most people do not have enough portfolio wealth and the other topics may actually add more value.
Hi Slasher. Here in the UK, an IFA can usually advise on everything, but may or may not operate in the mortgage market. Some do everything, some are specialists. Maybe ask your friends and family if they’ve had a good experience with an adviser near you…
@@MeaningfulMoney Is it common in the UK to have multiple advisors for each of the aspects?
Plz do a blog on withdrawing funds from SIPP drawdown policy without incurring tax liability! My understanding is personal allowance minus state pension = amount one can withdraw before incur tax!! AND plus dividends allowance of £2000 pa !!
You have it right, pretty much! Assuming the money is already in drawdown and you’ve taken your tax-free cash, then everything you take out is taxable. So yes, personal allowance minus state pension gives whatever you can take out tax-free. Plus dividends if £2k, yes 👍🏻
The most thing that my late Father put in his will was that his IFA should advise on probate. That ended up costing £6000 but saved about five times that compared to what I had calculated for inheritance tax.
Thank you for making this video!! This has been the most useful video on this topic so far!! Just curious, but do you think “Vanguard personal advisers” may be a good option? I know people usually recommend against advisers who are affiliated with a brokerage firm, but Vanguard (in the US) is very reputable. Any thoughts on this?
Presume you are in the US because I’m pretty sure Vanguard no longer give advice in the Uk. As such I can’t comment on the US company, but independent advice is always best.
Hi Pete
Fantastic video !
You seem to mysteriously pop up when im considering all things money.
Its like you were reaching out the phone to me personally when you said reason "Hit 50 and realized something needs sorting"
You have probably covered this somewhere in your extensive back catalogue but wondered if there is an online tool that can tell me what pensions arr attached to me, either by name or NI number?
Ive had a few jobs over the years and some house keeping is sorely needed!
Loving your work sir, hope you can help 🤞🤞🤞🤞
Is there any advisor could get me out of paying the 15% tax in USA dividends?
Great video as always.
Given the mantra that most people can do most of this themselves most of the time, I'm still a bit confused on the differences of a financial planner/advisor Vs tax planner Vs estate planner.
Is it sometimes better to go straight to specialists rather than being referred on/have that subcontracted out?
As a US based financial advisor, I typically take the lead and direct the client to the appropriate experts (tax and legal) based on their circumstances. Not all tax and legal experts are created equal.
Hi Graham. I think if you have complex needs a specialist can earn their fees. Most people’s affairs are not that difficult, so look for a Chartered Or Certified Financial Planner (CFP) and you shouldn’t go too far wrong.
Thanks for this Pete. I was offered a free consultation with Reeves over linked in. I did the initial meeting but there were three red flags, so i said no thank you.
1. They have their own managed portfolios. Very much restricted!
2. They didn't seem to know who Fundsmith were (when asking about my existing investments). Odd for financial people.
3. Seemed to imply if I wanted to pay off the rest of my mortgage I should exhaust my ISA first. If there is one thing I've learnt from following these reputable channels, its that a more subtle blended solution is best.
Next.....
Good spot on all counts. Dodged a bullet there!
Great video Pete! Although at the start I thought you were about to say “I’m 25 years old” 🤣
Nobody would believe that, Lucy! And thanks!
Hello, I wonder if you an help/advise me? I am trying to take my whole pension pot as I have plans to buy a 2nd house, (income from renting my current house will massively out perform any pension) but I need a form filled in by a liensed IFA, I annot get anyone to sign off on this even though I have a sound plan. I am over 6 months into this and am loosing the plot, do you have any advice?
Hi, thanks for all the informative and useful contents! May i just ask, is there a minimum amount of money before a person must have before considering having a financial adviser?
Depends on the adviser really. But my contention is always that if they have a willingness to learn some basic principles, most people don’t need to see an adviser until they are approaching retirement.
@@MeaningfulMoney thank you so much! More powers!
Great Video and very pertinent to my situation as I have just woken up to the fact that retirement planning may be a good thing. The thing that concerns me about seeking paid advice is that I would be taking all the risks for following their advice. If you pay the advisor what guarantees do you have that the advice is the best? They are going to get their money if the advice pays off or not. If the advice doesn't turn out to be the best you are left dealing with the loss and they move on to the next client. I know that investments can go up as well as down yada, yada, yada but apart from their reputation what have they got to lose?
Sebg, if you go to a doctor what guarantees do you have their advice will be the best? No outcome is guaranteed; in anything. Ultimately, a service provider should help educate you on your problem/issue, and empower you to make a well informed, thought out decision. In the case of a financial advisor, reputation is EVERYTHING. The major of advisors obtain new clients via referral, which they would not get, most likely, if they had a poor reputation. Point being, don't dismiss reputation. Good luck!
There’s no guarantees when investing money in anything? How old are you? you’re just NOW thinking retirement planning is important? It’s probably too late.
@@ericpie8887 Thank you for your valuable insight
In the US, I am skeptical of some advisors. I’ve heard horror stories of advisors who abuse fees, provide conflicting advice, etc. How can I avoid this?
You can negotiate fees, I'm in South Africa and we have to provide all fees on any product quotes so the client knows what they're paying for,
My IFA only has BSc (hons) after his name, is this ok?
Thanks.
Great channel BTW!!👍🏼
Yep - it' snot a requirement to show the adviser qualification letters after your name. Ask him what level of qualifications he has - it'll either be diploma-level or Chartered level.
@@MeaningfulMoney will do, thank you for your reply. 👍🏼
Having looked at multiple advisors, there seems to be a pattern of not accepting any investments under the 100k mark. Is this purely down to fees to cost averaging or simply, smaller pots aren't worth giving paid for professional advice?
Looks like under $100K questions are not even being accepted! 🤣
Is a financial advisor recommended if your questions are purely a one-off about how to best optimise tax, shares/bonds allocation at retirement and confirming a plan for withdrawing cash across pensions/ISAs?
You’ll struggle to find an adviser to do that, I’m afraid. They can’t be expected to answer a few questions without the context of your full situation. To do the job right, financial planning should be without restrictions. The only alternative is to commit to going fully solo and owning your decisions. Sounds like you’re thinking the height things through - you’ve got this! 👊🏻
@@MeaningfulMoney Thanks! Appreciate the reply. That stage is a long way off so may well become a lot clearer once I do more research I imagine.
I'm in a position where I just need specific tax/pension advice and am struggling to know where to go. It is to do with "Protected Pension Age" and whether this will be lost if I obtain new employment straight after leaving my Police occupation. Tax office will not give specific individual advice, pensions officer won't either. Local IFA states it is a bit too specialist. I am petrified of having unauthorised tax charges on my police pension but really dont know where to go for reassurance?
You need a pension specialist. Suggest you contact Wingate FP - wingatefp.com/
No idea if they'l take you or not, but they should be able to point you in the right direction if not. tell them I sent you.
Here is a link to the full HMRC rules on this topic which may help answer your question: www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm062230#IDAA5PPG
@@chrisbeckett566 Thank you very much. Just need to understand some of the terminology like "Sponsoring employer" This is really useful though
In my experience "advisors" just love to churn investments using the lower charges as a reason.
Lower charges is a decent reason, as long as you’re not being charged to do the move! I’ve always wondered how advisers have the nerve to charge up front fees to move money they are already being paid to manage!
It's hard to find reliable information of reasonable pricing for advice. I don't go for cheapest, you usually get what you pay for, so I usually go for a middle price range. Like what would be a reasonable price to pay as a percentage of the fund, or flat fee, for getting initial advice on a defined benefits pension conversion to a more flexible pension arrangement? Bearing in mind you have no choice but to get advice if it has over £30,000 in it. Just looked at the website of a company mentioned in this video, and they seem to charge 4.5% for the initial advice. So if you had a £300,000 fund that would be a massive £13,500 just to be advised on weather to move it or not move it. If the fund had £200,000 in it, then £9000.00. That seems a lot of money to pay just to be given advice on keep it or move it. I'm sure its not a simple process to work out the right thing to do, but £13,500.. really? Like if the fund had less in it, you pay less, is the model used to determine the right thing to do more complex for £300,000 fund instead of £200,000 fund to the point you pay another £4,500 for the £300,000 fund?
DB Transfer advice is easily the most contentious, high-risk area for advisers to operate in, which is why you're seeing the figures you are. It's also illegal for advisers to offer contingent charging, where they only get paid if you choose to transfer. So they have to charge you - a lot! - to advise and then again when you transfer. It's a rubbish situation caused by catastrophic failures in regulation.
I realise that this is an old video and an old question and response but both the content and the query are still very relevant today (2024). Due to my personal circumstances, I would like to transfer a DB pot into a SIPP but finding an IFA willing to engage is a real challenge and that's even before any discussion about my circumstances and reasons. Also, several "IFAs" are not really independent when it comes to DB transfers because they will only engage if they get to manage your full pot (including what you may already have invested elsewhere), or they insist on transferring into a platform with which they are associated, so even though they might otherwise offer independent advice, they are restricted when it comes to DB transfers. It has been an exceptionally frustrating experience for me when the primary reason is the opportunity for my heirs to benefit and also to minimise the future risk of Inheritance Tax (IHT). I am miles away from the IHT threshold today but if I last another 20-30 years, who knows?
Your point on independent is so wrong. So many ‘IFA’s’ despite being whole of market will only use a small panel of providers as well despite not being restricted so it is a very outdated perception
While I concur that many IFAs use a small number of providers for the majority of clients, the ability to choose any provider is important. That’s especially true for rate-driven products like life insurance but also for investments and pensions. For example we recently did an exercise shifting several dozen clients from one SIPP provider to another because the first provider’s fee structure had changed for the worse. And no, we didn’t charge the clients for this work - that’s what they pay is ongoing fees for!
I stand by my belief that independence is the gold standard, while acknowledging that being independent doesn’t necessarily make for a good adviser.
Nothing's free. The first meeting is at the adviser's expense and a smart client should do their adviser-research before the meeting. (I'm an adviser).
Pete, can you please possibly recommend a IFA. Have recently retired and need independent financial advice.
meaningfulmoney.vt/work-with-pete or send me an email via the MeaningfulMoney website and let me know where you are in the UK and I'll try to recommend someone near to you
I think I have a fair bit of investment knowledge , but we are not allowed to move my wife's DB pension without advice. I have no doubt that the"advice" will try and push us down the route of a managed fund with unnecessary fees. We know what we want, why can't we just do it ?. Her DB will pay £500 per month on retirement at 65. The DB pension value is over 100k. I'm confident she could have a pot of over 400k (7% Average) if it was placed in a diverse index tracker like the vanguard 100 for 20 years. Do Vanguard have advisors ?
It's a travesty, Stuart - I do understand the frustration. There are decent firms that won't necessarily assume you'll invest with them. Try The Private Office - I hear good things: www.theprivateoffice.com/
**I have only had one client use them, so I cannot vouch for their advice or service standards.**
Bear in mind that there's a possibility that you will be charged for advice only to have the adviser recommend you leave the pension in place. In which case you'll have paid fees and still be stuck - no adviser worth their salt will take on a DB transfer on an insistent client basis.
AFAIK, Vanguard don't have advisers that will advise on this subject.
Thanks for your detailed response. Much appreciated 😁. I think we will get an exact valuation first. Then make some enquiries.
Be careful so far since November I’ve lost £4,900 through advisor recommended investment.
Absolutely rubbish
@@hudson7354 yes avoid all financial advisors, give bad advice. .only interested in their Fee
I thought IFAs were life assurance salesmen rebranded. A marketing term like calling "tracking software" "cookies". Mmm, cookies sound nice. "Spyware", not so much.
Well, as an IFA, in prefer to call myself and my firm financial planners, for exactly the reason that I think the term IFA has been tarnished. Fact is, whatever term is used, there will be a majority of good guys and a tiny minority of sheisters who ruin it for the rest of us. Hopefully the steps in this video will help folks have a good chance of avoiding the latter!
I did love your intro clap. Sad that it is gone.
I kinda miss it too…
£1,700 initial fee on advice pension pot of 200k…age 75 …plus 2% . Is this a good deal
2% of the pot if they advise you to move it? After paying £1,700 for what first? Assuming they’re only advising on the pension, that’s 2.85% which is punchy. It starts to look better value if there’s a holistic financial plan put in place which gives a framework for making decisions around the pension. My worry here is that the fee is weighted towards a transaction with the pension when the best thing to do might be to leave it in place.
How do you know if the advisor is genuine or a scammer who will run off with all your money?
Check the FCA register (just Google that) and make sure their name is on it. You can check their history and whether they’ve ever been disciplined there…
On 4:40 you say "Any Decent Adviser should charge for planning." That's WRONG. Many commission based advisers aver very decent.
That’s true, Emmanuel. In the UK though, commission-based advice on pensions and investments is illegal.
My point, rather, is that planning shouldn’t be used as a hook to make a sale, instead it should be charged for in its own right.
Why has it got to be a decade long relationship?l thought that f.advisors, found you the best deal took your cash,&adiós?!
Not the decent ones…
Wouldn’t a good CPA give the best advice, which you only pay for their services on a need basis and not a percentage of your assets whether your assets grow or not, every year. When your retired 1% could be 25% of your return on investment and that doesn’t include taxes, which could make even a higher in real percentage. 1,000,000 X 1%= $10,000 in yearly fees.
Yes, absolutely. WE don't have CPAs in the UK, but you're just talking about an accountant. Accountants are generally not authorised to advise on investments and pensions though. But I've built a career on equipping people to do this for themselves and not pay an adviser at all!
No such thing as independent now to many options better restricted who can focus from one of a dozen or so providers 12 funds best portfolio diversification without fragmentation go with richest adviser ask if hes a multi millionaire if not avoid pay no more than .5% his fee pa
how much is a financial adviser, I mean a ball park figure
I can only tell you what I would charge. Other advisers will vary depending on their skill level, experience, demand, and location. I'm in Cornwall, so labour overheads are relatively cheap compared with, say, London, though I pay my staff well. We are, however, a Chartered firm with a 3 month waiting list, so we're far from bargain basement.
- Planning - £2,995 plus VAT up to a maximum of £4,995 plus VAT - one off
- Implementation - usually 1% of any sums invested, but that's a maximum. We would cap that at higher levels.
- Ongoing review - 0.75% of assets managed or £200pm plus VAT if we're not managing assets
Other info here: meaningfulmoney.tv/work-with-pete
I found some want to charge a percentage of the pot of money you want advice on. Mine was pension related. Others charge a one off fee. Mine £1500. Then the fund management company takes an ongoing percentage to mange your pot and advisor another ongoing very small percentage (optional) for ongoing advice. It's minefield out there, and difficult to know if you are going to get value for money.
Costs vary , I was quoted 4% of my pension pot for advice at the time this was £12,000 , And the advisors recommendation was don,t use me me as I am too expensive.
Don,t know why advisors cannot just charge an hourly rate
Some do, but not many.
Clarity , simplicity...structured video. Sincere thanks.
Is there a Purpose (and Difference) between a “Financial Advisor” and a “Financial Planner”?
I would say yes. Firstly ‘Advisor’ is the American spelling, but it’s becoming increasingly prevalent over here - bah!
Traditionally, an Adviser will help you meet your financial goals exclusively through the sale of financial products.
A planner, on the other hand, will take you through a process that projects forward your current trajectory and answer the big question: ‘Will I be (financially) OK?’ If you’re not on track, they will offer suggestion for how to get back on track - increase your savings rate, reduce your costs or tax, switch investment approaches. This suggestions may or may not involve financial products.
To be honest I have found these so called experts to be very untrustworthy. When I was working full time frankly I didn't have the time or interest to look into this as much as I should have an it probably cost me a lot of money. The advisor kept saying I should transfer my pension to different companies and I foolishly trusted her. I now see the fees that have been charged. I have now retired and of my own fruition transferred my funds into my desired provider.
Try not to tar us all with the same brush. We don’t all churn our clients’ pension to earn fees on the same money over and over again. Most advisers are good, trustworthy people who want to do right by their clients. But I’ve built a career on telling people that they don’t need an adviser and can do this themselves, so well done for taking matters into your own hands!
I’d be interested in your thoughts on this… I’ve done quite a bit of digging before using SJP vs IFA…
You say run away from firms who plan and implement for free then charge ongoing… I recognise this as I was told this by SJP.
you also seem to have a dig at firms for not being IFA, I chose SJP in the end over IFA…
I found that on my pension, they would charge me 1.5% all in, (my fund is another 0.28%, no platform cost) no initial fee, no planning fee, no set up fee, no implementation fee, no hourly rate… and they do actually do the whole of the market, global funds and so I’m told, choose the best possible, but change funds if need be…
at the meeting, if I didn’t want to proceed, he told me that’s just the cost of him running his own business and no hard feelings. (I thought SJP people were employed by SJP, but they’re not, they’re self employed & use SJP) I’ve had just over £30k to clear out of my business into a pension, so I pay around £530 per year…
the IFA I went to see wanted £2500+VAT up front, then 1% on top to set up, and 1% ongoing advice, plus fund manager and platform costs coming to circa. 0.95%..!!! And to add insult, the IFA said don’t use SJP they’re expensive..!! IFA added up to around £4k in the first 12 months vs £450 with SJP…
Each year is £534 SJP vs £585 IFA
I figured the IFA would have had to do some phenomenal outperformance to recoup the fees they charged up front… so went with SJP.
Do you think I just found an expensive IFA..?? Or is that typical of an IFA which seems very expensive..?
Good video though.
I work for a well known Asset Management company and we deal with SJP on a daily basis. Trust me, those morons will try overcharging you at every given opportunity once they've suckered you into buying every single service they offer.
I kind of share your opinion, I,m waiting for a pension plan from SJP so far without charge. The real cost of course are exit fees of 6% reducing by 1% for each year you remain a customer for pension and investment bond products. In addition, as you stated 1.5% ongoing or 1.7% for ISA/unit trusts. I was approached by an SJP partner after using unbiased to
find an adviser, this was after describing only one of my small pensions. I suppose its possible they are trawling for work, however after zoom meetings which I found cordial, their interest grew when I gave further details of total pensions. At the moment I am paying 0.5% on several frozen pensions and at some point will have to pay a financial planner to access my pensions for drawdown if their over £10,000 as I understand the rules. So you pay someone to access your own money!