AIBU to five financial advisor pension policy numbers

[lucy6058]

I approached a financial advisor to help me consolidate some existing employee pensions. He has asked me for the company and policy no of each one. Is this common practice? I've tried to google it, but cant find an answer. I'm worried I'm being scammed!!! His firm is reputable and has good reviews.
I appreciate any insight to this

It’s the ongoing 1% charge (plus the platform fee) which would concern me. It’s not difficult to write to the 4 or 5 existing pension providers yourself, and move the policies to another one. Or, once you’ve chosen the new provider, get them to do the work - it’s very easy.

You can transfer your own pensions very easily - don’t pay an advisor to do this.

Tell the one you want to leave of your intentions and ask if you can take the money without a charge, then ask the one you want to transfer in to what the process is/what form you need to fill out. They’ll send you the info or do it with you over the phone.

It’s a few hours of life admin and phone calls, then all done. I’ve merged about 3 this way over the years.