STAY AWAY FROM Fund Advisers QROPS
Recently underwent a meeting to be offered a product in order to transfer my pension i left in the UK with the NHS.
After waiting close to 3 months for some documents to return from the UK, i was offered a pension through a company called Premier Pensions. I was pushed to sign a bunch of documents there and then which i did not do as i believe you should read over everything before proceeding with a rash decision.
On further research, turns out Premier Pensions is headed by a gentleman called Stephen Ward ( another Spencer Lodge) when i was told simply "this is our pensions admin team based in Spain'. I was further shocked to realise that this company was charging close to £2000 just for the admin duties on top of numerous charges Fund Advisers levy on their products.
This was not made clear to me in the meeting.
Having discussed this with a friend of mine, it became apparent that there is no legal liability on Fund Advisers if something was to go wrong down the line which got me thinking that by dealing with this Spanish company where is my protection.
I would just advise anybody looking at transferring their pensions to these unregulated "IFA'S" in the UAE to due their due diligence and not get duped. Luckily I saved myself and hope the general working public are aware of this.
Reason of review: Poor customer service.
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