IN THE BACK
our plans . Last year gave us a kick in the seat , acting as a reminder that if prices go up by 10 % per annum , it ’ s nigh on impossible to get your pension pot to do the same , particularly when you ’ re close to retirement . It ’ s a bit like saving up for 10 years to buy your dream car , then when you finally have £ 50,000 in your bank account , you ’ re told you ’ ll need to find another £ 5,000 to take it home . What I ’ m trying to demonstrate is that planning for retirement is difficult and expensive , with new pitfalls appearing all the time . Therefore , should you leave your retirement plan to the professionals ? Since the internet rolled into town , we have been empowered to do more for ourselves , hence the fact that millions of us now manage our own investments . But the internet has also empowered a new generation of wealth managers , giving us access to professional help , particularly in areas where complexity reigns . Such as our pensions , for example . I find myself drawn to the following :
· Validation of my choices – Sometimes I feel I ’ d like a professional to give my holdings a brutal reallocation as I feel my portfolio has become stale .
· Regulated advice on retirement planning – I feel I haven ’ t put enough into my retirement fund and I need somebody to spell out my options .
· Post-retirement services – I know I ’ ll have time on my hands to fiddle with my pension in retirement , but I am concerned there is a better way to invest and access my money , with somebody looking out for me .
This wish list looks as if it will necessitate the services of an IFA or wealth manager , but are there other ways of “ keeping my independence ” and accessing these services on my own terms ? I ’ m confident all I need is a bit of advice every now and then , not the full treatment that costs more than 1 % of my pension pot every year . So , which platforms provide this hybrid service ? Here are five that meet these criteria .
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