Investment for Non UK Resident

[arn22110]

As I work outside the UK I am unable to use conventional UK investment companies but have been approached by Guardian Wealth Management (GWM).

Not only do I have a lump sum to invest I also have a reasonable pension from a previous employer.

GWM have suggested cashing in that pension and investing in a SIPP with them, the SIPP would not be impacted in the event of my death... my wife would get the whole as opposed half.

Appreciate the experts view on the above and the investing of a lump sum with GWM

[cs174]

I'd be very cautious in investing large sums of money with an organisation I didn't know particularly if they cold called.

Might be worth trying someone who specialised in expat financial matters such as The Fry Group as a comparison.

[chip*]

No direct experience of such firm, but based on your short brief, I see 3 seriously large red flags waving at me!

- "Approached by": cold calling is banned in UK. Even if it's permitted in France (per your profile), I would be cautious of any 'door' salesman.

- "cashing in existing pension and investing with them": Why???? Is their offering far superior in cost, risk, performance + other benefits over your existing pension? Have they actually provided any details on their offering/investment?

Or maybe their recent change to fee structure has some bearing to this request...:
It will have a recurring, fee-based model rather than a traditional commission platform
https://international-adviser.com/guardian-wealth-...

-"my wife would get the whole as opposed half" - are they asking you to cash in your UK DB pension and invest it all into their SIPP equivalent (would require qualified advice to proceed with DB transfer)? If this is correct, I really don't know where to begin! Just ensure you fully understand what you are giving up on the DB pension.

Just some random thoughts which I hope you will find useful..

[darreni]

Seek proper on the ground regulated advice in your jurisdiction.
Look for recommendations from friends or colleagues rather than an Internet forum.

[GT03ROB]

NEVER...... EVER go near a financial company that contacts you, especially in respect of pension transfers

[Simpo Two]

arn22110 said:

GWM have suggested cashing in that pension and investing in a SIPP with them

They're just after percentage of your pension fund.

Maybe you can move your pension to a SIPP, but you don't have to do it with the first chancer that contacts you. I'd suggest that reputable companies don't need to cold call.

If you have 'friends and colleagues' who know more than the combined knowledge of the key posters here (I'm not one BTW), I'd be surprised.

What this has done for you, however, is open a possible avenue for research. All I know is that pensions can get complicated!

[eyebeebe]

Run, run like the wind. I’ve been cold called by them and their ilk for the last decade while living in Switzerland. Lots of horror stories about people being taken in by their patter and paying a fortune in fees while being locked into contracts they can’t get out of without saying goodbye to a huge chunk.