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returning IFA kickbacks (Intelligent Money)

Does anybody have any experience with "Intelligent Money"

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They claim that for £35 per year, if one's pensions, ISAs, etc financial intermediary is transferred to them, they will refund all the IFA's yearly kickbacks. Apparantly it was discussed on Radio 4's "Money Box". It sounds like a great idea, but I cannot get to talk to them. The phone has a message saying due to overwhelming response, they cannot currently answer phone enquiries. They also do not return my e-mail enquiries. (These are not good signs.)

As I need to do ISAs and personal stakeholder pension for 2003/4 very soon, I have to start acting fast. This prospect is making me hestitent to go direct to my companies of choice, when if I go via an IFA intermediary, I can maybe revover the kick-backs. (By the way, I'm looking at a Royal Liver or Weslayan personal stakeholder pension, and a Scottish Friendly ISA)

Thoughts please.

Thanks.

Mad Max

Reply to
MadMax
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Just discovered that Halifax staff monitor & post to the TMF board. This person sounds like a useful contact -

That's a good customer friendly thing for IF to do. The One Account people do the same, so I don't know if it's a TMF initiative or an individual companies policy.

Daytona

Reply to
Daytona

Ahh realisation dawns ! What a plonker; my apologies. Other than having heard about the product, I know nothing about IM.

Daytona

Reply to
Daytona

Intelligent Money were also mention in the Guradian (last Saturday). I got the impression they were a small (1 or 2 people?) IFA outfit. So no surprises that they can't cope with demand.

You might be better off taking out the IFA elsewhere and trying to transfer later.

Selftrade do a free ISA, but have a trading account inactivity charge per quarter.

Thom

Reply to
Thom

For a drink and a "friendly" discussion? :)

Reply to
Doug Ramage

Worth a try ... or alternatively take out the ISA.

Thom

Reply to
Thom

Hargreaves Lansdown refund the initial commission and around half the annual commission, with no fee. I think there's at least one other broker who does something similar.

Incidentally, the OP said he was planning to invest with various life companies, who often don't have very good charges or investment performance. It's a lot more important to get the right product than to worry about fairly small perturbations from commission refunds.

Oh, and another point, for pensions you can back-date contributions for the current tax year up to (I think) next January.

Reply to
Stephen Burke

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