Ongoing Advice Charges

[oblio]

We have settled, long term investments from which we can draw an income tax free (With Profits Fund) and lump sums tax free (ISA's)...so I am questioning whether it is worth paying the Company who we have invested with, for ongoing advice charges.

We do not want to move our funds and will write to the Company in question when we want to either set up monthly incomes and/or withdraw lump sums. The Company we are with send us annual progress updates.

I have no need to contact them other than than for withdrawing money in the future and annual meetings with their advisor to give us an update on progress only really rehash what is in their annual statements which are posted to us.

Am I missing something here? Can I just stop the annual fees for ongoing advice thereby foregoing the annual visit, without any other detrimental effects?

Any advice happily received.

Thanks

[Simpo Two]

...the fizzing bomb lands on the carpet...


Well, having been this way myself...


Is the adviser giving you any actual financial Advice, and if so do you ever change your financial arrangements accordingly?

How much is the annual visit with 'progress update' (the one you also get for free in the post) costing you - in terms of percentage of your investments?