When we buy something we like to know how much it costs, we don’t want any nasty surprises.
But do you really know how much the advice you receive from your Financial Adviser or Investment Company costs ?
Do you know? – Do you care?
Well, let’s look at an example to see if we can get you to start thinking about this and what it could really mean for you.
When you buy something either in a shop or on line you see what you’re getting. You know the price it’s going to cost and you can decide there and then if you can afford it.
But, what would you think if 35 years later you were presented with a further bill, with more costs that you hadn’t been told about when you purchased the item?
Would you complain? – would you be annoyed – would you tell them what to do with these additional costs?
When you invest in a Pension you will be asked how much can you afford?
If you take financial advice you will be charged for it. You will be told how much the charge is for the financial advice you receive and you will be told if there an ongoing charge per year and what that amount per year will be.
What you won’t be told is how much the whole bill will amount too in 35yrs time when these fees and charges are deducted from your Pension.
Typically Advisers will charge 3% for the intial advice and 1%pa for on going service but some will charge less and some will charge more.
How much could this end bill be due to the power of compound interest? That of course depends on how much you invest over the 35yrs. But it also depends on how well your Pension performs.
Have a look at the example below – using our proposed model of charging for comparison purposes.
So would you be happy with an additional Bill off £22,000 – £46,000 – or £102,000 – or would you prefer to have this additional amount in your Pension Fund ?
That’s the real truth of the matter
So to find our more how we could put this extra money into your Pension or Investment Fund – pre register – it might just make a huge difference to the outcome of your future wealth and happiness when we launch.