Unfortunately, I think you are right.
I started in just a modest pension scheme , as a young, sellf-employed family -man. It soon became apparent that the hands of all these "advisers" and"providers" were dipping in the till and taking a good skim off the top. It wasn't hard to realise that the person paying for these impeccably booted and suited "professionals", was their customer...IE ME!
I froze my "investment" and took out an endowment. Yes, I suppose I got life-insurance during it's currency and unlike the pension, the cash wouldn't be forfeit to the "provider" if I died.....but, not only were the profits non-existent, but there was over a 25% shortfall in the basic sum.
Strikes me, the whole pensions industry is a leech on the backs ofthe financially naive.....immoral, unethical and opportunist.
It is prettyobvious the best way to secure ones future financial well-being in the UK ,is property.
1- they aren't making any more land (unless it's an estuary airport on someone else's money)
2- there is a housing shortage
3- the rate of building is not keeping pace with demand
4 - you get to live in your investment- (you pay the rent to yourself)
5- you can up-size as your prosperity grows, downsize after the kids have gone and you retire
6- because of (2+3) above, you can let a room at a nifty tax-free, non-declarable amount. which gives you a return and houses somebody...win all round!
7 Despite a couple of recessions in the last 20 years, overall, houses havebeen a far better investment than just about anything else.
(If you invested in gold at the right time, you'd have made a terrific return,only to see a massive lump wiped off overnight....If you'd bought at the peak..
)
Do not trust ANY "financial expert"- if they were that bloody good at it, they wouldn't need to be working and trying to dip their hands in your pocket, would they?