Hi,
Im a 39 year old NZ'er, living and working (and will retire) in Australia and I have a £85K personal pension in the UK with AGEON. I know I cannot move the pension to Australia at this age. I will not make any further contributions to the pension.
The pension hasn't been touched in 10 years and performed ok but it would probably benefit from a re-balance and possibly re-platform to a SIPP. I want some influence as to how the pension is invested and prefer low fee, passive funds - but I am happy to pay for advice on a per service basis.
Ive been seeking advice from various advisors in Australia, Uk and other.
So far my options are:
1. Leave with AEGON and rebalance.
2. Move to a UK based SIPP and rebalance.
3. Pay Australian advisor to move to a international SIPP with RL360 to access international currency functionality so I can transfer to AUD when FX becomes favourable.
1. Leave with AEGON and rebalance.
Im open to this option since I already have it set up. But I cant seem to find an advisor who will just do a one off rebalance for me within the AEGON structure and AEGON seems to be limited to their own funds and the site isn't very user friendly - and frankly I cant figure out how I can issue fund transfer instructions without an advisors assistance on the AEGON platform.
2. Move to a UK based SIPP and rebalance.
Ive looked at UK based SIPPs but my issue is finding one that accepts applications from non UK residents. AJBell seems to be one that does. I think I would still like advisor assistance in migrating and rebalancing into a UK SIPP, but every advisor Ive spoken to seems to charge 3 or 4% for the transfer plus an ongoing 1% for management, even though I think it probably just needs a revisit once every 3- 5 years.
3. Move to a international SIPP
Im put off option 3 from reading this forum, the high fees and I don't need the ability to transfer GBP to AUD for several years. I don't see any other benefits here right now.
Questions for the forum:
A) What is my best option?
B) I like the look of Nutmeg, but it doesn't accept non resident applicants... are there any other robo type SIPP products similar to nutmeg that do accept non uk residents? (I still have UK bank account and TFN)
C) Are yearly advisor fees standard across the industry, or can I just pay for their services as I need them and if so, how do I find advisors that charge this way?
D) If I cant find a decent advisor Im leaning towards option 2 but I will have to do it all myself with careful research and risk assessment. Although I don't really have the time or expertise to be 100% confident I can get this right. Any views on this?
Thanks!
