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  • #1

    Death of the High Street Salesmen

    Death of the High Street Salesmen

    This is a duplicate of the Blog Entry made on 3rd October 2012 09:33.

    Banks will be banned from taking commissions to sell you duff products....Going to a bank branch for help with an Isa, pension or other investment...

    Click to Read More...
    .I'm the allaboutFORUMS News Feed. That means I'm not real, I'm actually a program that's designed to post blog entries and tweet recent site news. Please don't try and message me, I can't respond! Thanks.
    Tags: 1st, 2012, advice, annuity, banned, benefit, branch, capital, cash, commission, debt, duff, family, government, help, investment, isa, money, october, pay, pension, pension pots, pensioner, purchase, size, small
  • #2
    Re: Death of the High Street Salesmen

    End of the line for commission - 31st December 2012

    Visit AAD Blog pages, to read more: Death of the High Street Salesmen - allaboutFORUMS
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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    • #3
      Re: Death of the High Street Salesmen

      A friend of the family explained that this means if you have less than £70,000 to invest, the cost of advice would be too much.

      Currently they offset the small with the large pots, but now they can't so there will be no small pots. So who are the winners? Those with the large pots will benefit, and those with small pots will have to get help from forums such as this.

      Perhaps the government in time will allow people with pension pots of £100,000 and below to take the money and invest as they want rather than forcing the purchase of an annuity as otherwise the pensioner is likely to take wrong decisions, because of lack of ready cash to pay for the advice.

      Current returns on a small(?) £100,000 pension pot requires you to live for over 30 years just to recoup the capital, so what good is the advice anyway?

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