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Need an IFA (financial advisor)

AvoidanceExpert
over 6 years ago

Somehow I once managed to hold down a job long enough to accrue a bit of a pension pot which I now need to transfer/get at. To do this you now have to have a form signed by an 'IFA' or independent advisor. So I did my usual trick which is email a few as I can't use phones or do face to face and got nowhere. Most either don't reply or email back demanding my phone number.  Also their websites to me are rather evasive or lacking precise details which winds me up a lot. And they are mainly focussed on luring you into a lifelong relationship involving ongoing fees. I wonder if anyone here has managed to use an IFA? Any tips? Maybe there is an autism aware one somewhere? PS remember to be careful divulging financial info in emails!!

Parents
  • over 6 years ago

    Hi

    I'm almost certain that you don't need a form signed by an IFA or anyone other than yourself to transfer your pension. I transferred one my mine from one provider to another in January of this year and didn't need anyone else's signature other than my own. It might be different if you're looking to withdraw your pension (if you're using the over 50 clause, but be careful of tax implications of withdrawing it) but I still would be surprised if there was a requirement for an IFA to sign anything.

    My advice in this situation would be to speak to Citizens Advice, they will be able to tell you what's actually needed and I strongly suspect that your current pensions provider is trying to take you for a ride. They aren't pushy, they will within reason correspond on email and if you tell them you're autistic and struggle with phone conversations they will take account of this if they do need to speak to you on the phone (or in person).

Reply
  • over 6 years ago

    Hi

    I'm almost certain that you don't need a form signed by an IFA or anyone other than yourself to transfer your pension. I transferred one my mine from one provider to another in January of this year and didn't need anyone else's signature other than my own. It might be different if you're looking to withdraw your pension (if you're using the over 50 clause, but be careful of tax implications of withdrawing it) but I still would be surprised if there was a requirement for an IFA to sign anything.

    My advice in this situation would be to speak to Citizens Advice, they will be able to tell you what's actually needed and I strongly suspect that your current pensions provider is trying to take you for a ride. They aren't pushy, they will within reason correspond on email and if you tell them you're autistic and struggle with phone conversations they will take account of this if they do need to speak to you on the phone (or in person).

Children