Financial advisor

[rusiano]

I think I’d like a financial advisor to take a look at my and DH pensions and financial plans. I feel a bit foggy about our retirement goals what with big London mortgage. We are both just 50. I’m not really clear what to prioritise and when. I don’t want to be sold an investment proposal or for someone to manage our pensions. More someone to do the projections and help us think it all through. Does such a person exist?

If you're looking for prioritisation and goals rather than specific products, Octopus Money have money coaches who can help you assess your current situation and how to reach your goals. I haven't used them myself but I've heard really good things about them

You need a Chartered Financial Planner and most probably a cashflow model. Expect to pay about 3-4k but cone out with a clear plan.

Thanks both, @jaffalemonswould a Chartered Financial Planner be able to track down pension pots too do you think? My pensions are straightforward but DH has a few dotted about

In all honesty, what you’re looking for is something you could do for yourself (and save the cost of having someone do it for you). Look up Rebel Finance School…free on FB and YT.

I’m not good with numbers to be honest. I’m quite successful in my career and have decent assets, pension and income but a bit illiterate financially.

You can't afford to be illiterate financially, educate yourself or someone will take your money.

Well I’m doing very well financially @BadgernTheGardenso I don’t think your comment is really warranted. I’m not stupid I just need a bit of guidance and support. We don’t manage our health entirely independently do we so why our wealth?

The pension tracing service would be a good place to start if your husband has a few dotted about. Once you have them all it is fairly straightforward to combine them if thats what he wants to do, although not always the best course of action depending on how large they are, whether they are DB or DC. All of this can be done without the need to pay someone.
https://www.gov.uk/find-pension-contact-details

Thank you @rainbowunicorn

At a minimum you/DH should be receiving a statement from each pension provider…if not being received make sure you update address with each provider once traced.

@rusiano Before you see a financial planner there are key things you can do to aid the discussions:

• State pension forecast https://www.gov.uk/check-state-pension
• Obtain your latest pension statement for each pension you have. Ideally log them on a spreadsheet with the age you can draw them in full
• A list of all current savings and investments with interest rates, maturity dates, whether interest is taxable or non-taxable
• Work out your current annual expenditure including one off costs, holiday’s, birthday presents etc.

This gives you a baseline of where you are now.

• Think about what you anticipate your annual expenditure will be in retirement.