What would you do with a £1million pension?
Discussion
Tit For Tat said:
BanzaiMan said:
Surely the typical IFA would be making near £100k at 72bps * 250 clients * £150-200k per client?
Would it be fair to say you are a tad pedantic when it comes to numbers?There is no typical IFA., particularly when it comes to earnings. Bear in mind though that many SJP partners are ex-IFAs. There are very few IFAs that are ex-SJP.
There is a reason for that.
This thread is now getting so off course I will not bother to post anything else irrelevant to the OP's opening question, other than this;
Q1. Is SJP more expensive or less expensive than other advisers?
A1. No one knows what SJP actually charge. All advisers charge differently. So this is not a comparison that can easily be made. In fact, it is very difficult.
This is why all advisers are met with distrust until they prove themselves.
Q2. Are SJP better than other advisers, equal, or worse?
A2. Who knows? More comments and feedback would be helpful here.
Q3. What value does an (any) adviser actually add?
A3. Tax planning, IHT planning, Estate planning. But all of these can also be done by your solicitor and/or accountant. An adviser is there to get you to the point whereby you need to worry about these things.
With ever increasing online support financial advisers will have to up the game to stay in business. The term "selling" is now a bad word (even though it worked very well). The modern day equivalent is "Holistic Advice".
Software can sort out you taxation, investment management, asset allocation, so on. Financial advisers are there to push you into actually doing it. To this extent they have secured many people future (including, very often, their own!).
Q1. Is SJP more expensive or less expensive than other advisers?
A1. No one knows what SJP actually charge. All advisers charge differently. So this is not a comparison that can easily be made. In fact, it is very difficult.
This is why all advisers are met with distrust until they prove themselves.
Q2. Are SJP better than other advisers, equal, or worse?
A2. Who knows? More comments and feedback would be helpful here.
Q3. What value does an (any) adviser actually add?
A3. Tax planning, IHT planning, Estate planning. But all of these can also be done by your solicitor and/or accountant. An adviser is there to get you to the point whereby you need to worry about these things.
With ever increasing online support financial advisers will have to up the game to stay in business. The term "selling" is now a bad word (even though it worked very well). The modern day equivalent is "Holistic Advice".
Software can sort out you taxation, investment management, asset allocation, so on. Financial advisers are there to push you into actually doing it. To this extent they have secured many people future (including, very often, their own!).
drainbrain said:
Actually you'd be wrong again. It would be .25% to £999,999, At £1M it would drop to .1%
Actually, I have not been wrong at all, and continue not to be wrong.Their fees are TIERED. Google the meaning if you don't understand it.
0-250K @ .45%
250K - 1 Mill @ .25%
1 Mill + @ .1%
No need to apologise, please just make sure that next time you know what you talking about before accusing someone of being wrong.
JulianPH said:
This thread is now getting so off course I will not bother to post anything else irrelevant to the OP's opening question, other than this;
Q1. Is SJP more expensive or less expensive than other advisers?
A1. No one knows what SJP actually charge. All advisers charge differently. So this is not a comparison that can easily be made. In fact, it is very difficult.
This is why all advisers are met with distrust until they prove themselves.
Q2. Are SJP better than other advisers, equal, or worse?
A2. Who knows? More comments and feedback would be helpful here.
Q3. What value does an (any) adviser actually add?
A3. Tax planning, IHT planning, Estate planning. But all of these can also be done by your solicitor and/or accountant. An adviser is there to get you to the point whereby you need to worry about these things.
With ever increasing online support financial advisers will have to up the game to stay in business. The term "selling" is now a bad word (even though it worked very well). The modern day equivalent is "Holistic Advice".
Software can sort out you taxation, investment management, asset allocation, so on. Financial advisers are there to push you into actually doing it. To this extent they have secured many people future (including, very often, their own!).
Wouldn't disagree with any of that.Q1. Is SJP more expensive or less expensive than other advisers?
A1. No one knows what SJP actually charge. All advisers charge differently. So this is not a comparison that can easily be made. In fact, it is very difficult.
This is why all advisers are met with distrust until they prove themselves.
Q2. Are SJP better than other advisers, equal, or worse?
A2. Who knows? More comments and feedback would be helpful here.
Q3. What value does an (any) adviser actually add?
A3. Tax planning, IHT planning, Estate planning. But all of these can also be done by your solicitor and/or accountant. An adviser is there to get you to the point whereby you need to worry about these things.
With ever increasing online support financial advisers will have to up the game to stay in business. The term "selling" is now a bad word (even though it worked very well). The modern day equivalent is "Holistic Advice".
Software can sort out you taxation, investment management, asset allocation, so on. Financial advisers are there to push you into actually doing it. To this extent they have secured many people future (including, very often, their own!).
With regard to Q/A3, they provide different elements of advice needed for tax, IHT and tax planning. So for example, your accountant or solicitor cannot advise on or set up investments, pensions or life cover (other than very basic generic information). Your IFA can't advise on your annual company accounts. It's horses for courses.
Where an adviser can be worth their weight in gold is when they "motivate" people to effect life /critical illness cover. People never buy protection products, they are always sold.
Going forward, "robo advice" is going to be an increasing part of the market, and will be adequate for a significant % of the population.
LOL!! Nerve truly pinged, then! 
. Being wrong isn't THAT bad y'know. I can see HOW you got it wrong and in fairness it's something anyone could have done. But such UMBRAGE!! Calm yourself, sir!
As you've not been round long I should advise you that if you're going to audition for and join The Ugly Sisters then from time to time you'll be obliged to be my b
h. It's a forum tradition. Ask another Sister....I'm both beyond Sisterly redemption and even help, and occasionally I'm in the mood to perpetuate matters until The Sister is reduced to invective and ad hominem at which point no amount of 'you just don't understaaaaaand' is going to count for very much.
Ps: I'm more receptive to erudition and articulacy which in this case would have involved some explanation of the matter. And I also prefer to keep the personal stuff to the pm format, tho' I can also understand why someone wouldn't want to spew bile at a complete stranger and for no good reason in private. Bit silly, isn't it? Well surprise surprise. It's just as silly on the open forum.
. Being wrong isn't THAT bad y'know. I can see HOW you got it wrong and in fairness it's something anyone could have done. But such UMBRAGE!! Calm yourself, sir! As you've not been round long I should advise you that if you're going to audition for and join The Ugly Sisters then from time to time you'll be obliged to be my b
h. It's a forum tradition. Ask another Sister....I'm both beyond Sisterly redemption and even help, and occasionally I'm in the mood to perpetuate matters until The Sister is reduced to invective and ad hominem at which point no amount of 'you just don't understaaaaaand' is going to count for very much. Ps: I'm more receptive to erudition and articulacy which in this case would have involved some explanation of the matter. And I also prefer to keep the personal stuff to the pm format, tho' I can also understand why someone wouldn't want to spew bile at a complete stranger and for no good reason in private. Bit silly, isn't it? Well surprise surprise. It's just as silly on the open forum.
Edited by drainbrain on Sunday 9th July 18:56
[quote=drainbrain
Ps: I'm more receptive to erudition and articulacy which in this case would have involved some explanation of the matter. And I also prefer to keep the personal stuff to the pm format, tho' I can also understand why someone wouldn't want to spew bile at a complete stranger and for no good reason in private. Bit silly, isn't it? Well surprise surprise. It's just as silly on the open forum. [footnote]Edited by drainbrain on Sunday 9th July 18:56
[/quote]
To be honest I didn't realise that you were so thick you would need an explanation of what tiered charges are.
But, if needs must - a simple example for you, which hopefully you can grasp.
Amount invested = £1,500,000
First £250,000 charged at .45% = £ 1,125
Next £750,000 charged at .25% = £1.875
Final £500,000 charged at .1% = £500
Total platform fee = £3405
Simple enough, moron?
As I said, no need to apologise.
Ps: I'm more receptive to erudition and articulacy which in this case would have involved some explanation of the matter. And I also prefer to keep the personal stuff to the pm format, tho' I can also understand why someone wouldn't want to spew bile at a complete stranger and for no good reason in private. Bit silly, isn't it? Well surprise surprise. It's just as silly on the open forum. [footnote]Edited by drainbrain on Sunday 9th July 18:56
[/quote]
To be honest I didn't realise that you were so thick you would need an explanation of what tiered charges are.
But, if needs must - a simple example for you, which hopefully you can grasp.
Amount invested = £1,500,000
First £250,000 charged at .45% = £ 1,125
Next £750,000 charged at .25% = £1.875
Final £500,000 charged at .1% = £500
Total platform fee = £3405
Simple enough, moron?
As I said, no need to apologise.
Edited by Tit For Tat on Sunday 9th July 19:36
Tit For Tat said:
To be honest I didn't realise that you were so thick you would need an explanation of what tiered charges are.
But, if needs must - a simple example for you, which hopefully you can grasp.
Amount invested = £1,500,000
First £250,000 charged at .45% = £ 1,125
Next £750,000 charged at .25% = £1.875
Final £500,000 charged at .1% = £500
Total platform fee = £3405
Simple enough, moron?
As I said, no need to apologise.
Now there's easy to understand. See! How hard was that?But, if needs must - a simple example for you, which hopefully you can grasp.
Amount invested = £1,500,000
First £250,000 charged at .45% = £ 1,125
Next £750,000 charged at .25% = £1.875
Final £500,000 charged at .1% = £500
Total platform fee = £3405
Simple enough, moron?
As I said, no need to apologise.
Edited by Tit For Tat on Sunday 9th July 19:36
Next, let's move on to replies that avoid the ad hominems. Y'know...the thick' and 'moron' etc etc.
So first, let's get acquainted with what ad hominem IS.
This is quite good:
https://yourlogicalfallacyis.com/ad-hominem
So you see what we're trying to avoid in order to train you up to be a civilised and worthwhile poster.
Later, we'll move on to the harder stuff, like how to be informative without sneering or being patronising about the person you're trying to 'help'.
And then we'll get to the BIG one. The BIG one is where you become aware that this is a chatroom and is a place where people come for light entertainment and amusement. Not to be lectured never mind insulted by a Trainee Ugly Sister or Chatroom Jackal. Think of your blood pressure! And try to avoid being like a Stressed Erica on Mumsnet.
True, some like Banzai Man may be coming in for a bit of helpful advice, but - and please read them - I wouldn't say he's really had much helpful or especially warm advice from your ripostes to him, would you? So if you see your role as adviser then learn how to dispense it a bit less rudely.
The relative importance of whether a poster is 'highly knowledgeable' or colossally ignorant is about zero. Because there really isn't anyone posting on the Finance forum (afaik) whose proven financial ability amounts to anything more than mediocre anyway. True, there are some extremely financially astute people on PH. Move around it a bit and your eyes will pop out on stalks just at the motors (not to mention other and far more expensive toys) they regularly buy and discuss.
But they aren't regulars on THIS forum. Now why do you think that is?
There's an old Zen saying: "He who knows does not speak. And he who speaks does not know". I could readily agree that it applies to me, though I'd also admit to being of the school that thinks 'the man who's never made a mistake has never made anything at all".
So, son, chill on the ad homs and insults. And try dealing with us ignoramuses a bit more kindly and patiently. After all you're really nothing special yourself, are you? Because if you were you'd be far too confident than to slag randoms on a chat forum.
Well? Am I wrong (again)?
Edited by drainbrain on Sunday 9th July 20:13
drainbrain said:
Now there's easy to understand. See! How hard was that?
Next, let's move on to replies that avoid the ad hominems. Y'know...the thick' and 'moron' etc etc.
So first, let's get acquainted with what ad hominem IS.
This is quite good:
https://yourlogicalfallacyis.com/ad-hominem
So you see what we're trying to avoid in order to train you up to be a civilised and worthwhile poster.
Later, we'll move on to the harder stuff, like how to be informative without sneering or being patronising about the person you're trying to 'help'.
And then we'll get to the BIG one. The BIG one is where you become aware that this is a chatroom and is a place where people come for light entertainment and amusement. Not to be lectured never mind insulted by a Trainee Ugly Sister or Chatroom Jackal. Think of your blood pressure! And try to avoid being like a Streesed Erica on Mumsnet.
True, some like Banzai Man may be coming in for a bit of helpful advice, but - and please read them - I wouldn't say he's really had much helpful or especially warm advice from your ripostes to him, would you? So if you see your role as adviser then learn how to dispense it a bit less rudely.
The relative importance of whether a poster is 'highly knowledgeable' or colossally ignorant is about zero. Because there really isn't anyone posting on the Finance forum (afaik) whose proven financial ability amounts to anything more than mediocre anyway. True, there are some extremely financially astute people on PH. Move around it a bit and your eyes will pop out on stalks just at the motors (not to mention other and far more expensive toys) they regularly buy and discuss.
But they aren't regulars on THIS forum. Now why do you think that is?
There's an old Zen saying: "He who knows does not speak. And he who speaks does not know". I could readily agree that it applies to me, though I'd also admit to being of the school that thinks 'the man who's never made a mistake has never made anything at all".
And you know how exactly?!Next, let's move on to replies that avoid the ad hominems. Y'know...the thick' and 'moron' etc etc.
So first, let's get acquainted with what ad hominem IS.
This is quite good:
https://yourlogicalfallacyis.com/ad-hominem
So you see what we're trying to avoid in order to train you up to be a civilised and worthwhile poster.
Later, we'll move on to the harder stuff, like how to be informative without sneering or being patronising about the person you're trying to 'help'.
And then we'll get to the BIG one. The BIG one is where you become aware that this is a chatroom and is a place where people come for light entertainment and amusement. Not to be lectured never mind insulted by a Trainee Ugly Sister or Chatroom Jackal. Think of your blood pressure! And try to avoid being like a Streesed Erica on Mumsnet.
True, some like Banzai Man may be coming in for a bit of helpful advice, but - and please read them - I wouldn't say he's really had much helpful or especially warm advice from your ripostes to him, would you? So if you see your role as adviser then learn how to dispense it a bit less rudely.
The relative importance of whether a poster is 'highly knowledgeable' or colossally ignorant is about zero. Because there really isn't anyone posting on the Finance forum (afaik) whose proven financial ability amounts to anything more than mediocre anyway. True, there are some extremely financially astute people on PH. Move around it a bit and your eyes will pop out on stalks just at the motors (not to mention other and far more expensive toys) they regularly buy and discuss.
But they aren't regulars on THIS forum. Now why do you think that is?
There's an old Zen saying: "He who knows does not speak. And he who speaks does not know". I could readily agree that it applies to me, though I'd also admit to being of the school that thinks 'the man who's never made a mistake has never made anything at all".
drainbrain said:
So, son, chill on the ad homs and insults. And try dealing with us ignoramuses a bit more kindly and patiently. After all you're really nothing special yourself, are you? Because if you were you'd be far too confident than to slag randoms on a chat forum.
Well? Am I wrong (again)?
Says the person that repeatedly tries to belittle and insult others...Well? Am I wrong (again)?
Edited by sidicks on Sunday 9th July 20:26
You really, seriously, think the forum would benefit from another version of yourself?
I mean what value is it adding to the threads?
It's not really enlightening or helpful or even funny.
So why do you do it? Or if it's someone else and not anything to do with you, why do you encourage it or escalate it or even join in it at all?
I mean what value is it adding to the threads?
It's not really enlightening or helpful or even funny.
So why do you do it? Or if it's someone else and not anything to do with you, why do you encourage it or escalate it or even join in it at all?
drainbrain said:
Now there's easy to understand. See! How hard was that?
Next, let's move on to replies that avoid the ad hominems. Y'know...the thick' and 'moron' etc etc.
So first, let's get acquainted with what ad hominem IS.
This is quite good:
https://yourlogicalfallacyis.com/ad-hominem
So you see what we're trying to avoid in order to train you up to be a civilised and worthwhile poster.
Later, we'll move on to the harder stuff, like how to be informative without sneering or being patronising about the person you're trying to 'help'.
And then we'll get to the BIG one. The BIG one is where you become aware that this is a chatroom and is a place where people come for light entertainment and amusement. Not to be lectured never mind insulted by a Trainee Ugly Sister or Chatroom Jackal. Think of your blood pressure! And try to avoid being like a Stressed Erica on Mumsnet.
True, some like Banzai Man may be coming in for a bit of helpful advice, but - and please read them - I wouldn't say he's really had much helpful or especially warm advice from your ripostes to him, would you? So if you see your role as adviser then learn how to dispense it a bit less rudely.
The relative importance of whether a poster is 'highly knowledgeable' or colossally ignorant is about zero. Because there really isn't anyone posting on the Finance forum (afaik) whose proven financial ability amounts to anything more than mediocre anyway. True, there are some extremely financially astute people on PH. Move around it a bit and your eyes will pop out on stalks just at the motors (not to mention other and far more expensive toys) they regularly buy and discuss.
But they aren't regulars on THIS forum. Now why do you think that is?
There's an old Zen saying: "He who knows does not speak. And he who speaks does not know". I could readily agree that it applies to me, though I'd also admit to being of the school that thinks 'the man who's never made a mistake has never made anything at all".
So, son, chill on the ad homs and insults. And try dealing with us ignoramuses a bit more kindly and patiently. After all you're really nothing special yourself, are you? Because if you were you'd be far too confident than to slag randoms on a chat forum.
Well? Am I wrong (again)?
Lol, I couldn't give a monkeys what you think about my posting style. If you don't care for it, suck it up.I make no apologies for not suffering fools gladlyNext, let's move on to replies that avoid the ad hominems. Y'know...the thick' and 'moron' etc etc.
So first, let's get acquainted with what ad hominem IS.
This is quite good:
https://yourlogicalfallacyis.com/ad-hominem
So you see what we're trying to avoid in order to train you up to be a civilised and worthwhile poster.
Later, we'll move on to the harder stuff, like how to be informative without sneering or being patronising about the person you're trying to 'help'.
And then we'll get to the BIG one. The BIG one is where you become aware that this is a chatroom and is a place where people come for light entertainment and amusement. Not to be lectured never mind insulted by a Trainee Ugly Sister or Chatroom Jackal. Think of your blood pressure! And try to avoid being like a Stressed Erica on Mumsnet.
True, some like Banzai Man may be coming in for a bit of helpful advice, but - and please read them - I wouldn't say he's really had much helpful or especially warm advice from your ripostes to him, would you? So if you see your role as adviser then learn how to dispense it a bit less rudely.
The relative importance of whether a poster is 'highly knowledgeable' or colossally ignorant is about zero. Because there really isn't anyone posting on the Finance forum (afaik) whose proven financial ability amounts to anything more than mediocre anyway. True, there are some extremely financially astute people on PH. Move around it a bit and your eyes will pop out on stalks just at the motors (not to mention other and far more expensive toys) they regularly buy and discuss.
But they aren't regulars on THIS forum. Now why do you think that is?
There's an old Zen saying: "He who knows does not speak. And he who speaks does not know". I could readily agree that it applies to me, though I'd also admit to being of the school that thinks 'the man who's never made a mistake has never made anything at all".
So, son, chill on the ad homs and insults. And try dealing with us ignoramuses a bit more kindly and patiently. After all you're really nothing special yourself, are you? Because if you were you'd be far too confident than to slag randoms on a chat forum.
Well? Am I wrong (again)?
Edited by drainbrain on Sunday 9th July 20:13
As for Banzai, it's for him to decide whether I have given him good advice. Again, I'm not arsed either way. You can lead a horse to water, and all that.
drainbrain said:
You really, seriously, think the forum would benefit from another version of yourself?
I mean what value is it adding to the threads?
It's not really enlightening or helpful or even funny.
So why do you do it? Or if it's someone else and not anything to do with you, why do you encourage it or escalate it or even join in it at all
Correcting the misunderstandings and misrepresentations of others certainly adds value.I mean what value is it adding to the threads?
It's not really enlightening or helpful or even funny.
So why do you do it? Or if it's someone else and not anything to do with you, why do you encourage it or escalate it or even join in it at all
Why do you comment on pensions when you clearly don't understand the first thing about them?
Why don't you post about buy-to-let opportunities, which I believe is your area of expertise, groak?
Why do you keep posting youtube song clips - what value does that add?
sidicks said:
Correcting the misunderstandings and misrepresentations of others certainly adds value.
Why do you comment on pensions when you clearly dont understand the first thing about them?
Why don't you post about buy-to-let opportunities, which I believe is your area of expertise, groak?
Why do you keep posting you clip song clips - what value does that add?
Why do you comment on pensions when you clearly dont understand the first thing about them?
Why don't you post about buy-to-let opportunities, which I believe is your area of expertise, groak?
Why do you keep posting you clip song clips - what value does that add?
quote "I'd love for hilarity to be triggered (to paraphrase you) but sadly, you're not quite doing it for me..." quote
now where have you heard that before.......
I'm telling you, you really want to stick with 'tit for tat' or else it'll end up 'twit for tt' everywhere....
now where have you heard that before.......
I'm telling you, you really want to stick with 'tit for tat' or else it'll end up 'twit for t
t' everywhere.... Edited by drainbrain on Sunday 9th July 20:40
sidicks said:
Correcting the misunderstandings and misrepresentations of others certainly adds value.
Why do you comment on pensions when you clearly don't understand the first thing about them?
Why don't you post about buy-to-let opportunities, which I believe is your area of expertise, groak?
Why do you keep posting youtube song clips - what value does that add?
sid...rather than encourage the Trainee Hyena why don't you tell him just how many threads on how many forums you've had to be given a slap on....Why do you comment on pensions when you clearly don't understand the first thing about them?
Why don't you post about buy-to-let opportunities, which I believe is your area of expertise, groak?
Why do you keep posting youtube song clips - what value does that add?
Come on. You know it's not somebody else's fault.
drainbrain said:
sid...rather than encourage the Trainee Hyena why don't you tell him just how many threads on how many forums you've had to be given a slap on....
You've posted bks on numerous threads. I've corrected you. It's very simple.Then you resort to posting silly YouTube clips and insult those who don't support your nonsense.
Incredibly dull.
Tit For Tat said:
You describe the 6% charge on pensions as an "exit fee". It sounds like you have fallen for the SJP spiel, this is how they train their partners to explain it. While there is a 6% declining exit fee, there is also an initial charge plus ongoing advice fee which equates to circa 6%. Don't be suckered!
Looks like it's not the first time this debate has occurredhttps://www.pistonheads.com/gassing/topic.asp?t=13...
ukshooter said:
No upfront fees on bonds and pensions
This guy works for SJP - all very confusing!drainbrain said:
quote "I'd love for hilarity to be triggered (to paraphrase you) but sadly, you're not quite doing it for me..." quote
now where have you heard that before.......
I'm telling you, you really want to stick with 'tit for tat' or else it'll end up 'twit for tt' everywhere....
Lol, more bnow where have you heard that before.......
I'm telling you, you really want to stick with 'tit for tat' or else it'll end up 'twit for t
t' everywhere.... Edited by drainbrain on Sunday 9th July 20:40
ks 
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