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Bigscadeyy
Posted: 15 November 2017 10:29:36(UTC)
#1

Joined: 15/11/2017(UTC)
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My IFA is recommending that I transfer my pensions to Old Mutual Wealth pensions platform which is his only recommendation.

I wanted to understand if anyone has any experience of this platform and how this might stack up against other pension platforms for a c£400k pot.

Thanks...
Captain Slugwash
Posted: 15 November 2017 12:05:03(UTC)
#2

Joined: 19/07/2017(UTC)
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Tim D on 15/11/2017(UTC)
Tim D
Posted: 15 November 2017 12:06:11(UTC)
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Hmmm when I see someone has an IFA involved, I suspect their future prosperity has far more to do with whether the IFA is good value and genuinely has their clients interests at heart than whether the IFA's platform of choice is any good. Can he justify his choice? Have you used this IFA before? Where are your pensions currently? How much does the IFA stand to make if you follow his advice vs. how much better off will you be?

I've not used OMW myself; a quick glance at http://comparetheplatfor...form/old-mutual-wealth/ suggests the platform is "advised only" and "funds only" (no ITs or direct equities/bonds) which I suspect massively limits its appeal to frequenters of this forum.
Tim D
Posted: 15 November 2017 12:16:56(UTC)
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UhOh.... that says OWM are "replatforming" onto FNZ's system... and FNZ are the same lot providing the Barclays Stockbrokers "Smart Investor" replacement. Go read the "Disaster at Barclays Stockbrokers" thread to see how that's working out for them. Of course maybe OMW's project managers have a better grip on things; from that article it sounds like they already had their fingers burnt once in a previous abandoned effort.
3 users thanked Tim D for this post.
Captain Slugwash on 15/11/2017(UTC), King Lodos on 15/11/2017(UTC), Guest on 18/12/2017(UTC)
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