Royal London flexi-access drawdown
richallum
Administrator
Been looking at them for smallish case of £130,000 using Governed Portfolios and the cost seems to be £186 set up then 0.45% pa (after discount, Core Funds only) exc adviser fees. This seems damn good VFM for a simple plan. Anyone got regular use experience?
Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern.
Comments
They also have a 'drawdown governance' service which looks pretty good. This is a traffic light system for an adviser to keep track of whether any of their clients are taking too much income from their drawdown pot. I haven't really seen it in action (other than demos from our BDM), but it's a good idea.
Only downside for me personally is no online applications, however you can at least fill in the PDF digitally before printing it off, and they accept application forms via email. They accept most other instructions via email/phone as well, no pesky signatures required.
Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern.
This can mean that the client does not get the full value of the discount of the combined policy value.
Also, the GPs are cheap because they're mainly passives - but I suppose that's the cost issue.