The Select Solution Costs: 1% initial. Maximum 1% Total Ongoing Cost.
For The Select Solution we typically charge 1% initial set up/ transfer fee (minimum of £1,000) and a maximum total ongoing charge of 1% per annum which really does include all charges, which means it includes:
- The cost of the Fidelity Allocator fund
- The Fidelity Platform Fee
- Our Ongoing Management fee.
So if your final salary scheme transfer value is £500,000, the initial charge is £5000 and the total ongoing charge is £5000 per year. No other charges are applied.
We are able to discount for larger portfolios as follows:
- £101,000 to £500,000 maximum 0.9%* Total ongoing cost.
- £500,000 to £1,500,000 maximum 0.85% Total ongoing cost
- £1,500,000 + Maximum 0.8% Total ongoing cost
Pension Drawdown 4 Bankers is a trading style of The Pension Drawdown Company which is a Whole of Market Chartered Financial Planner and Final Salary Scheme Transfer Specialist. This means that in addition to the benefits of working with a chartered firm, you also benefit from knowing we are completely free from any agreement with any third party. This means that being independent we work with providers across the whole market and when assessing the suitability of a proposition for a client we will consider all options against your personal circumstances to ensure you benefit from advice that is suitable for you.
We have used the example of the Fidelity Allocator Fund for illustration purposes, Fidelity has been chosen as we believe it is the ideal solution for receiving final salary transfers. It also provides clients with a truly global diversified investment portfolio.
The cost of this range benefits from our close working relationship with Fidelity and the use of Index funds (see Investment Strategy). However we have chosen to work with Fidelity because we as Chartered Financial Planners believe they have clients’ best interests at heart and have developed a quality solution.