Do I need a financial adviser for my pension?
The answer depends less on the word pension and more on the size, complexity and consequences of the decision you are making.
When pension advice may be useful
Advice can become more valuable when several pensions interact, you are deciding how to draw retirement income, the investment risk matters materially or you want a personalised recommendation rather than general information.
When guidance may be enough
If the issue is straightforward and you mainly need to understand options, free guidance can be a useful starting point. Guidance explains choices but does not make the same personalised regulated recommendation as financial advice.
What should you look for in a pension adviser?
Does pension size matter?
It can. Percentage fees become more significant in pounds as the pension grows, while some firms set minimum asset levels or minimum fees. Compare the economic value of advice with the decisions you need help making.