Quote Originally Posted by vnman View Post
I did read and write that accepting such monies should exclude you from giving financial advice.
As far as I'm concerned, the only qualification someone needs to give financial advice is that they give good financial advice.

That excludes a lot of "professional" financial advisers who sometimes recommend expensive investments, purely because they get kickbacks. I recall a good friend who moved all his pensions after advice from a "financial advisor". I queried the fees and was told it's just over 1% per annum. I queried if that included both the platform management fee AND the fee for the funds. I encouraged my friend to check the documentation thoroughly. He was livid when he discovered the total of fund fees and platform fees came to about 2.4% per year. Bear in mind he was over 20 years from retirement, so about 40% of his initial investment would go in fees over that period.
He moved his pension again without the hinderance of a financial advisor.