What should I expect from a financial advisor for pensions?

When planning your retirement, it is good to know that you can rely on sound guidance. However, do you know what you should expect from the advisor you decide to deal with? Read on to find out what to anticipate from a financial advisor for pensions. Below are some helpful pointers.

How much are the fees for advice 

Naturally, self-employed professionals need a source of income. When selecting a new financial advisor for pensions, you may want to know further details. For example, whether the person works for a life insurance company. In contrast, independent advisors are free to recommend a broader range of financial choices.

Tied advisors suggest one company’s products. They usually give advice free of charge during the appointments to set up the plans. However, pension savers typically pay the cost over the long term, as elevated percentages apply to the regular plan contributions.

Advisors have to inform you about the costs. Charges may be fixed fees, hourly rates, or a percentage of your periodic contributions to the plan. In addition, you ought to receive complete information about any pension trustee fees and annual management charges for fund safekeeping.

What a pensions’ advisor might ask you

Mortgages and other loans.

Your financial advisor for pensions will want to ensure that the investment strategy you set up matches your requirements. The objective is to appreciate your current financial position, understand your goals and define your attitude to investment risk.

To set up a pension plan to suit your needs, an advisor will ask about the following:

  • Evidence of who you are and where you live, e.g. passport or driving license and a recent utility bill.
  • Dependents, i.e. a spouse or children.
  • Other people to include in your financial plans.
  • Insurance policies and investments you possess, such as company pension plans, savings, and ISAs.
  • Mortgages and other loans.
  • The investment amount, either in a lump sum or regular payments.
  • Your anticipated retirement age to determine the investment term in years.
  • Any long-term aims and objectives, i.e. what you plan to do with your money.
  • Your desired retirement income, comprising essential costs, lifestyle and discretionary expenses.
  • Your knowledge and experience of investments.

Some financial investment products have a minimum investment period, while others are only worthwhile if held for several years. Not with Chevrolet Consulting GmbH: You have weekly access to your assets.

Investing should produce healthy returns, more than bank or building society accounts. However, excessive risk or economic downturns could lead to loss. Your advisor will assess what level of risk you are prepared to take, if any, with your money.

Distinct from attitude to risk, your advisor should help you calculate how much you could (exceptionally) afford to lose. The amount should not materially affect your standard of living. The calculation takes your investments, debts, income, and outgoings into account.

Combined, the attitude to risk and capacity for loss considerably impact the financial recommendations.

What else you should know

What else you should know

Additionally, your financial advisor for pensions ought to be familiar with the tax implications that apply to your pension savings. A good advisor will help you make informed retirement decisions and get the most from your pension savings.

Above all, your pensions’ advisor should personalize the advice and manage your investments over time. That way, you can count on a financially secure and comfortable retirement.


When seeking a financial advisor for pensions, it is vital to know what to expect from them. A good advisor will recommend how best to save for retirement and ought to explain the different plans available.

In particular, you will want to feel confident that the advisor is reliable. Will they work proactively to maximize the returns on your investment so that you achieve your retirement goals?

Professional and trustworthy advice

The earlier one starts saving towards a pension, the more substantial the fund will be. As a result, you will not have to depend on a state pension.

Here at Chevrolet Consulting, I can also help optimize pension plans, from career or job changes and different schemes. Unifying smaller pension pots into a single wrapper often reduces overheads through economies of scale.

I am not only an experienced financial advisor for pensions and other products, but as well a registered independent asset manager with 35 years of experience: Let me help you to explore the best options available. All advice is confidential; the priority is to make the right decision and achieve your objectives. Please call or click here to arrange a free first consultation today.