QROPS/QNUPS

Information on QROPS / QNUPS – trustee and fund fees can wipe thousands off your investment – but there is rarely any need to pay full charges, and you can plan for much less. You can avoid high charges so easily by using EME.You can get advice if you want it, or you can conduct execution only with reduced costs. You choose!

Your typical salesman will set up a trust with around a 1% charge up front, then set up a bond (completely unnecessary in most cases) with a 7% charge up front, and then put it into funds that either belong to the IFA firm owners, or pay a commission of around 2-4% up front (totalling 10-12% upfront).

Much of this is unnecessary fees, but just a really good earner for the IFA. You need to be making serious high returns to combat all these fees which are often sold to you that the product provider will take an additional charge out over the first 8 years. In fact in most cases the charge continues over the lifetime!

Here is a graph showing the difference between reduced initial fees and the full commissionon identical performance – over £40,000 in 10 years!

Openess

Is what every consumer wants, so why will the industry not provide it? – Every part of the industry appears to be geared to be earning as much money for themselves! So, the providers turn a blind eye to the salesmen generating their large commissions as they also get to put larger surrender penalties and make more money by upfront charges.

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