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Post Info TOPIC: How much does it cost to get advice on pension drawdown?


Newbie

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How much does it cost to get advice on pension drawdown?
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I have a pot of about £300,000



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Billy

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As an adviser with Better Retirement I charge a fee and normally this is a fixed fee paid in advance.

The fee depends on the complexity of the advice and the size of the drawdown fund. 

the table below is taken from Better Retirement's terms of business

 

  

Standard advice

Complex advice

Min / Max Fee

 

£500 /  £7,500

£1,500 / £10,000

Lower band

Upper band

 

 

 £                        -  

 £              150,000

2%

2.50%

 £         150,000.00

 £              500,000

0.75%

1%

 £         500,000.00

 £           1,000,000

0.25%

0.50%

This means that if you took the tax-free cash the fee would be about £3,500 which can be taken form the pension pot



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