Best Platform for just holding IT's in a SIPP?

2

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  • MonroeM
    MonroeM Posts: 174 Forumite
    First Anniversary Combo Breaker First Post
    ColdIron wrote: »
    HL charge 0.45% capped at £200 with no other drawdown charges

    In that case then Fidelity is the best option for me as their cap is £45 in total. Also, they don't have any early closure penalties for drawdown. So all in all it seems a great deal to me.
  • MPN
    MPN Posts: 365 Forumite
    First Anniversary First Post
    MonroeM wrote: »
    In that case then Fidelity is the best option for me as their cap is £45 in total. Also, they don't have any early closure penalties for drawdown. So all in all it seems a great deal to me.

    I use Fidelity for my IT's and have yet to find a better platform. As you rightly point out that their are no penalties and no charge for switches and a cap of £45 so that's very good in my opinion. It also has all the funds you could possibly need.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
    First Anniversary Combo Breaker First Post
    MPN wrote: »
    It also has all the funds you could possibly need.

    Yes but they (funds) also come with an additional 0.35% annual service charge on top of the £45 annual admin charge.

    In terms of IT and ETF offerings, the availablity list is adequate for many of the popular vehicles but a very long way off what might be called extensive.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • A_T
    A_T Posts: 959 Forumite
    Name Dropper First Post First Anniversary
    Fidelity's share dealing fee of 0.10% per deal is pretty good for small investors.
  • MPN
    MPN Posts: 365 Forumite
    First Anniversary First Post
    JohnRo wrote: »
    Yes but they (funds) also come with an additional 0.35% annual service charge on top of the £45 annual admin charge.

    In terms of IT and ETF offerings, the availablity list is adequate for many of the popular vehicles but a very long way off what might be called extensive.

    Sorry, I meant to say IT's (not funds) and, yes, the list of popular IT's is adequate for me.
  • IanSt
    IanSt Posts: 366 Forumite
    A_T wrote: »
    Fidelity's share dealing fee of 0.10% per deal is pretty good for small investors.

    I'm not sure that the 0.1% charge will be remaining for long. The fidelity site is still saying 0.1% but I received a letter from them last month which I seem to remember talking about a change. Unfortunately I didn't keep it as I don't use them for investment trusts.
  • MonroeM
    MonroeM Posts: 174 Forumite
    First Anniversary Combo Breaker First Post
    IanSt wrote: »
    I'm not sure that the 0.1% charge will be remaining for long. The fidelity site is still saying 0.1% but I received a letter from them last month which I seem to remember talking about a change. Unfortunately I didn't keep it as I don't use them for investment trusts.

    Would you mind me asking which platform you use for IT's, mainly because I can't seem to find a better deal than what is on offer at Fidelity (cap of £45), especially for SIPP's with no penalties or drawdown charges.
  • talexuser
    talexuser Posts: 3,498 Forumite
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    My ISA is with iWeb at zero administration and £5 a trade since I don't swap much around and huge value for large amounts compared to the % platforms. My ITs are outside the ISA, again with zero administration and 2% a divi reinvestment, max £5. The IT selection suits me, website basic but fine (use trustnet and morningstar for detail) and I think the opening charge is now £25. Service has been very good for me, just depends how your totals work out compared to others (SIPP is with Cavendish/Fidelity at 0.25%).
  • A_T
    A_T Posts: 959 Forumite
    Name Dropper First Post First Anniversary
    IanSt wrote: »
    I'm not sure that the 0.1% charge will be remaining for long. The fidelity site is still saying 0.1% but I received a letter from them last month which I seem to remember talking about a change. Unfortunately I didn't keep it as I don't use them for investment trusts.

    I can't find anything about the 0.1% dealing fee changing.
  • IanSt
    IanSt Posts: 366 Forumite
    I found the letter. It talks about an online buy or sell charge of £10 and that this replaces the current fee of 0.1% for transactions in investment trusts and ETFs. The £45 annual charge cap does still remain as it was before. Regular transactions, including dividends is £1.50.

    It doesn't say when this change will happen, it just says that the various changes it talks about will happen over the coming months. It may actually be a good thing for you. 150k of trusts would cost £150 on a 0.1% charge, so provided you are investing into less than 15 trusts then you'll be ahead.

    There are some further details in https://www.fidelity.co.uk/doingbusiness.

    My sipp is actually with alliance trust as I've a mix of funds, ETFs and investment trusts.
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