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Prudential Don't Want Business

I have previously posted here re an annuity - and received good advice/pointers.

I decided to phone three possible providers to get one of their reps each to come round and discuss the options which their company can provide.

I was amazed that Prudential would not send round a rep to discuss their products - they were willing to take my details and give me a quote.

I told the sales department if they thought I was going to buy some of their products to a value of half a million quid on the strength of a phone call and a quote with no option to ask questions and discuss their options then they have another think coming.

I must assume that they are happy to farm out all of their selling to IFAs.

Two other firms I have contacted are more than happy to come to see me.

(I am also considering an IFA - but I am trying to cover all my options)

Reply to
nigel banks
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Don't forget that things have changed since you first started paying into your pension, and these changes have been dramatic! Not all companies have reps, for a start. They are expensive things and most companies find the IFA as the best outlet for their products.

I have to say that if you do go down the rep route, as you appear to be, I'll lay a bet that you don't get as good a deal as you might have. I may be wrong, and I'm not promoting IFAs particularly, but I suspect that you are saying to yourself, 'if I buy it direct from the company then I don't have to pay any commission to a middleman and I'll get a better deal'. Well, the company will be paying commission to its rep instead of the IFA. If the IFA knows what he's doing he will have a list of all the best providers with the commissions they pay and you can make your choice from these. You may well find that the most commission is paid by the best provider! Often happens.

I expect a certain number of gremlins to jump up and down about what I'm saying about using an IFA, but don't take any notice. They are generally bigoted because they've had a bad experience. It doesn't make them right, and you'll be the loser.

Rob Graham

Reply to
Rob graham

Thanks - as I said I was treating this as an information gathering exercise for myself - I find it difficult to believe that IFA would be able to understand the detail of a particular company's offering as well as a rep of that company - however I could be wrong.

As I said I will probably go to an IFA anyway - I am wary about being sold something, knowing that the IFA will be getting a cut which may influence the "advice".

I will start a new thread "Is it worth using an IFA"

Reply to
nigel banks

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