THE HONEST BROKER TEST!

Everybody wants your business including ourselves!

The internet is full of brokers and financial advisers who can deal with your pension transfer either in the UK into a SIPP (Self Invested Personal Pension) or offshore into a QROPS (Qualifying Recognised Overseas Pension Scheme)

All financial advisers and pension brokers are the same just like all mortgage brokers!
They all offer and have access to the same SIPP/QROPS providers and investment funds!

THE ONLY DIFFERENCE IS SOME CHARGE HIGHER FEES THAN OTHERS AND SOME BROKERS UNLIKE US DON’T ALWAYS TELL YOU ABOUT ALL THE FEES YOU WILL PAY!

Here is a list of charges associated with a pension transfer

1.SIPP/QROPS PENSION SET UP FEE
(When you transfer your pension fund by law it has to be placed with a recognised pension trustee)
The Pension Trustee will charge you a one off fee to open and establish your SIPP/QROPS account
AVERAGE ONE OFF FEE FROM £400.00 TO £1500.00

2.SIPP/QROPS ANNUAL TRUSTEE FEE
Your Pension Trustee will also charge you an annual fee to oversee your pension fund
AVERAGE ANNUAL FEE FROM £400.00 TO £1500.00

3.BROKER/FINANCIAL ADVISOR FEE
Most brokers/financial advisors charge an additional fee for their services. This fee is taken directly from your pension fund when it is transferred into your SIPP/QROPS account
AVERAGE ONE OFF FEE IS 5% OF YOUR PENSION FUND VALUE

4.INVESTMENT BOND SET UP FEE
Your chosen pension trustees will oversee your pension fund but your money must be placed in an investment bond to enable growth of your pension fund or income provision from your pension fund. Popular investment bond providers are Hansard (Isle of Man) and Generali (Guernsey) to name a few.
AVERAGE ONE OFF FEE IS 7% OF YOUR PENSION FUND VALUE
(THIS IS A STEPPED FEE AND IS TAKEN AT 0.25% EVERY 3 MONTHS FOR THE FIRST 7 YEARS)

5.ANNUAL FUND MANAGERS CHARGE
Within your chosen investment fund or funds you will have to pay a fund manager. The fund manager’s job is basically to make you money either in the form of capital growth, income or both but he needs to be paid for this.
AVERAGE ANNUAL FEE IS 0.75% TO 1.5% OF YOUR PENSION FUND VALUE

WHY USE US?

WE ARE OPEN AND HONEST ABOUT FEES!
WE DON’T CHARGE BROKER FEES!
WE PAY OUR CLIENTS SIPP/QROPS ACCOUNT SET UP FEE!
WE PAY OUR CLIENTS FIRST ANNUAL SIPP/QROPS PENSION TRUSTEE FEE!

SO IF YOU TALK TO ANOTHER BROKER TRY THEM WITH “THE HONEST BROKER TEST” AND SEE IF THEY TELL YOU ALL ABOUT THE 5 FEES INVOLVED BEFORE YOU TELL THEM!

IMPORTANT
ALL BROKERS HAVE THE ABILITY TO REFUND A PERCENTAGE OF THEIR COMMISSION IN ORDER TO REDUCE YOUR INITIAL SET UP COSTS

Kind regards
Anthony Gott