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Wesleyan

Discussion in 'Retirement' started by onmyknees, Sep 29, 2017.

  1. onmyknees

    onmyknees Established commenter

    Has anyone had retirement advice from Wesleyan? I want to retire at the end of this academic year and am wondering if anyone has had advice from them? Is there anything to be wary/ aware of?
    Thanks in advance!
     
  2. RepelloInimicum

    RepelloInimicum Established commenter

    Yes, they helped me to clarify my options so that I could make a more informed decision about what to do and when. I haven't taken up any of their products though because I am looking for something that doesn't 'lose' too much of any investment in fees, so am still researching that.
     
    emerald52 likes this.
  3. holdingon

    holdingon Occasional commenter

    3% initial charge on investments!
    Not for me
     
    emerald52 likes this.
  4. Bedlam3

    Bedlam3 New commenter

    Could I ask... Did they come out to visit you and look at all up your options and could I be cheeky and ask how much they charge for this? Thank you.
     
  5. maz403

    maz403 New commenter

    I took advice from them. Felt they were really helpful. No charge unless you take their product. Guy came out twice and stressed that there was no pressure to invest with them.
    In fact it was so useful I decided I could retire at the end of last summer
     
  6. onmyknees

    onmyknees Established commenter

    They are coming to my house and there is no charge for their service. I'll give feedback on here once they've been- won't be till half term.
     
    Bedlam3 likes this.
  7. thistledoo

    thistledoo Senior commenter

    Very thorough. No pressure and no obligation.
    I was given sound advice and it worked for me. I didn't have to pay for the consultation.
     
    onmyknees likes this.
  8. tolkien28

    tolkien28 New commenter

    Please do. Like many colleagues I'm slightly
    wary of financial advice/advisors and look forward to hearing back from you.
     
  9. RepelloInimicum

    RepelloInimicum Established commenter

    Same here.
     
    thistledoo likes this.
  10. onmyknees

    onmyknees Established commenter

    I've had my meeting and was very impressed. They went through all my options of whether to retire completely or cut down my working days. What I liked was that they could give me an idea of what my net pay for each scenario would be. I feel much more equipped to make the correct decision now. Would highly recommend.
     
  11. Sundaytrekker

    Sundaytrekker Star commenter

    And did they try to sell investment products?
     
  12. sci

    sci New commenter

    The are obliged to offer you their products and will explain them but there is no pressure selling and their advice is useful for clarification. Both a visit and seminars (offered occasionally)are worthwhile especially if you want to retire in a few years and top up your pension. They do explain the standard teacher top up routes offered through the TP and will also explain the state pension and potential top ups there.
     
  13. onmyknees

    onmyknees Established commenter

    They didn't try to sell me anything. They just asked when my home and buildings insurance was due for renewal. I found it very useful.
     
    thistledoo likes this.
  14. thistledoo

    thistledoo Senior commenter

    No. The gent from Wesleyan went through all my income/ outgoings and looked at investments and my pension to get a clear overview of my income as 'retired'. He was very helpful and advised I move an independent pension investment to a different type - this was not with Wesleyan and he stressed it was not worth moving it to one of their products because it would cost me money.
    I felt it was my circumstances he was evaluating and he gave sound advice in several areas that affected my pension that I acted upon, all to my benefit. No Wesleyan 'products' in sight.
     
  15. Sundaytrekker

    Sundaytrekker Star commenter

    That’s good to hear. Sounds very worthwhile.
     
    thistledoo likes this.
  16. Xericist

    Xericist New commenter

    I was very impressed with the advice I had from my Wesleyan rep. And I was very cynical! They are on salary so not dependent on commission. He did a financial audit (twice, once when I was thinking of retiring early, and later when I reached 60). He showed me the various options without any obligation and did not try to steer me into their products. There is a reason why they have a good reputation with doctors, teachers and other professionals.
     
    tolkien28 and onmyknees like this.
  17. TonyM19

    TonyM19 New commenter

    I can add to the list of people who were impressed with their service. Responded to emails 6 months later when I asked for some clarification of a few points.
     
  18. Jolly_Roger1

    Jolly_Roger1 Star commenter

    The problem with Wesleyan is that it seems very good, knowledgeable representatives trying to sell very poor investment products. We have a friend, who being wary of investments put, I think, £10k of his lump sum with Wesleyan. He was far from impressed, and got out after a couple of years, when he found that he had lost money.
     

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