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Are The Halifax A Safe Bet For Financial Advice?

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piggynose | 16:30 Fri 19th Jan 2018 | Business & Finance
9 Answers
I ask because i´ve got to do a pension transfer, but was told to seek financial advice first before proceeding. My pension company who hold my pension funds, have sent me a form full of typical financial jargon, and has a page attached devoted to a financial adviser.
thanks in advance
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well its not independent
Tha Halifax will only offer you advice on their own products .. so not a good idea.
Better to do a bit of research and find an Independant Financial/Pensions adviser.
Firstly check if they will offer a free consultation and then check their fees. Find out if they charge by the hour, or if they charge a percentage of the sum intended to be transfered. Best to see what you think after an initial meeting before commiting to complete a transfer.
Halifax do not give financial advice, but they are part of the Lloyds bank group who do have Independant Advisers, they see customers who have over £100,000. So if your pension pot is over than sum they may be worth thinking about.
Piggy....see an IFA....an Independent Financial Adviser.

But you will be charged for any advice that you receive.
It may help us if you can tell us what type of pension you currently have ( company scheme or private pension) and the reason you feel you need to do a transfer. Also where do Halifax fit in? Your existing pension scheme are understandably wanting you to get financial advice- they are worried you might make a legal claim later they shouldn't have let you transfer out
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Ff, its called an option 32 transfer policy from the royal London, yes Its a company pension.
Okay. Well I'm not surprised they want you to seek financial advice. It's generally better to leave money in a company pension unless the circumtances are exceptional. And I think if the fund is worth over £20000 it is compulsory by law to get a finacial adviser to endorse the move .
Question Author
Ff, luckily ive got a trip booked to visit UK next month, 3 nights,in Glasgow. Will this
Be enough time to see an FA?
Question Author
I have found a couple of financial advisors, and their fees are pretty exorbitant, to say the least. It seems i have no choice but to proceed.

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