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As an international teacher and single parent, my life is hectic. I haven’t had the time or knowledge to get involved with my finances.
Like many teachers, I was indirectly introduced to someone I now know was an unregulated international adviser. He made some fantastic sounding promises regarding my UK Teachers Pension Scheme: enhanced benefits and flexibility to secure my daughter’s future.”
Although I never received a clear explanation of how the adviser made money, he was so friendly and attentive on his visits to school, by phone and by email that I proceeded with his recommendation. I moved my pension to a QROPS which the adviser then invested into a Royal London 360 Offshore Bond.
Almost immediately after this, I met AES International. I was shocked to discover I had inadvertently forfeited my guaranteed pension rights and inefficiently taken out a tax wrapper within a tax wrapper. I also realised the QROPS, Offshore Bond and the investments within it were most likely unsuitable. AES also showed me how to read and understand my RL 360 valuation so I saw I had immediately lost 20% of the transfer in value in hidden charges.
I had mistakenly put my faith in a charismatic individual not an organisation. I therefore completed a one-page form and switched the agency of my investment to AES International.
The fact that AES International is so highly regulated, has won a lot of awards, is a large, completely and utterly transparent international business with a centralised investment team, has given me genuine and well-founded peace of mind – my daughter’s future is safe and secure. I can now hope my pension will recover in value over time.
I now understand how the allegedly ‘free’ advice works and stand to make savings of £100s of pounds a year whilst hopefully getting the performance my retirement account really deserves.
Overall, I have much greater security and confidence moving forwards.