Pension

[Iloverupertp]

Hi
I’ve received a large percentage of my exdh pension when we got divorced a few years ago.
I had no idea about pensions so instructed a financial advisor to look after it
It has increased in value but I don’t think
I’d realised how much they charge and what it will cost over the years.(I’m 48 yrs)
Any advice on going forward?Do I still need a financial advisor or is it something I can manage myself?
Could I put it in another account
Any help really appreciated
Thanks

Is it invested into a pension account with an insurance company, e.g. Royal London, Scottish Widows, etc? You can switch off the ongoing servicing charges if you don't want to continue to receive advice but remember that the financial adviser will then be under no obligation to keep an eye on it and anything you do will be at your own risk.

As you're only 48 then assuming it's been invested in a reasonable fund choice there's probably not a lot going to need looking at for a few years. The only caveat is if you have other financial planning stuff going on that does need advising on you may want to retain your relationship with your financial adviser so perhaps speak with them first.

Sunseed
It’s with aviva and this will be the only financial advice I’ll ever need.
It just seems I pay a lot of money for him to look after it but I don’t know what my other options would be to do with it
God I’m useless with things like this

Well you can't access it until at least age 55, and ideally you'd leave it a bit longer until you've stopped working as it's meant for supplementing your income in retirement. So it ought to be invested in a fund choice that will give it the opportunity for capital growth over the medium to long term, aligned to your risk appetite.

Assuming that the original adviser did a competent job then it's pretty much just got to sit there and do its thing over time now. You can check on its performance yourself every year or so, but really unless you have a major change in your circumstances you can leave it be until you start thinking about retirement plans and seek more advice about your options at that point in time.

Thanks for the advice Sun
So I can just leave it with Aviva and advise my advisor I don’t need him anymore?
Will I have to pay him a lump sum now?
It’s quite likely I may need to dip into it at 55 as all my maintenance will have stopped
I work full time but not a massive earner and I expect will still be financially supporting my 3 kids(they’ll be early 20s) in some shape or form

I've PM'd you.