Which share dealing SIPP?

dafydd123

First of all, sorry for the length of this post.

I've had an executive pension plan with Standard Life for over ten years and from it's performance I would have probably been better off keeping the money in a biscuit tin under the bed! I've also had a self select ISA for the past 3 years and have made a few pounds with it. Therefore, logically, I'm thinking of switching this EPP to a SIPP.

From reading several posts on here Hargreaves and Landsdown are highly reccomended. However, H&L may have good deals when buying funds, but when it comes to dealing in individual shares their execution costs seem to be quite high. It's likely that I'll be splitting my money 50:50 between funds and shares and so I've started to look around. Selftrade also has a good rep on this site but the deals on funds, share dealing costs (£12.50) and intrest rates on cash in the SIPP account (staggered rates ) is bettered in my opinion by Interactive Investor III (good deals on funds, £10 a trade, low quartelry charges and 5% for all cash held in the SIPP). Unfortunately, III must have one of the most clunky interfaces out there when it comes to trading and when the markets are busy, it's almost impossible to trade through them.

Could anyone suggest another company that rival's III's charges but has a better dealing interface?

Thanks in advance

dunstonh

From reading several posts on here Hargreaves and Landsdown are highly reccomended. However, H&L may have good deals when buying funds, but when it comes to dealing in individual shares their execution costs seem to be quite high.

HLs charges would also be higher than those available on the SL fund range so you would just be moving to a higher cost plan. Does the SL EPP have access to the usual SL fund range or is it just the with profits fund?

I would have probably been better off keeping the money in a biscuit tin under the bed!

Unlikely, the SL fund typically at worst has performed in line with savings accounts and at best in line with a balanced managed fund at around 7% p.a. Timing will depend on that.

EPPs are often treated as occupational pensions as far as transfers go. So, you will also need to check the SIPP provider will accept an EPP without an IFA being involved. They probably will as its not as high risk as accepting a final salary pension transfer but its worth asking the question.

dafydd123

dunstonh wrote: »

HLs charges would also be higher than those available on the SL fund range so you would just be moving to a higher cost plan. Does the SL EPP have access to the usual SL fund range or is it just the with profits fund?



Unlikely, the SL fund typically at worst has performed in line with savings accounts and at best in line with a balanced managed fund at around 7% p.a. Timing will depend on that.

EPPs are often treated as occupational pensions as far as transfers go. So, you will also need to check the SIPP provider will accept an EPP without an IFA being involved. They probably will as its not as high risk as accepting a final salary pension transfer but its worth asking the question.

Straight forward with profits fund.

You sure? It's a very nice biscuit tin.;)

Oooh. Didn't think of that. I'll see what III say. They are my fallback plan if nobody can come up with the name of another SIPP provider.

thanks.

EdInvestor

Have a look at https://www.sippdeal.co.uk and https://www.sippdealextra.co.uk

Much will depend on how often you want to trade and in what size chunks.

https://www.alliancetrust.co.uk may also be worth a look if your fund size is fairly large.

dafydd123

EdInvestor wrote: »

Have a look at www.sippdeal.co.uk and www.sippdealextra.co.uk

Much will depend on how often you want to trade and in what size chunks.

www.alliancetrust.co.uk may also be worth a look if your fund size is fairly large.

I just rang Sippdeal and they have no problems transfering in a Executive Pension Plan. There's no need for any IFA involvement. Sippdeal doesn't have any annual charges and it has negotiated some excellent rates on Unit Trusts such that there's a 0% cost when initially purchasing them:j However, dealing costs range from £9.95 for < £500 to 0.75% for anything over £2k. The intrest paid on cash is also staggered.:rolleyes:

However, as youa re saving £37.50 a quarter on charges, I suppose you don't mind taking the hit on the interest rate and dealing charges. Swings and roundabouts.

I'll take a look at the alliance this afternoon.

Thanks again

dafydd123

FYI I've decided to go with III (AJ Bell) as the charging structure will be the cheapest for my needs. On the application form, they ask for a list of Nomination of Beneficiaries - in case I pop my clogs and they consider paying out some death benefits. Obviously the wife will be first on the list but they also alow me to put my kids on here as well and I can specify percentages. If I were to die when my kids were still kids (16 years old or less) then is it more beneficial for them to be named seperately or should I leave the lot to the wife and let her sort it out? She's a teacher by the way and should end up with a decent pension :rolleyes: come retirement.

purch

How about the E Trade SIPP

Same administration as SippDeal but a far better and cheaper Online trading platform

_macca_2-2

You say you have had your Executive Pension Plan for over 10 years, exactly how long have you had this as you may have other benefits there you may wish to keep Tax Free Cash greater than 25% being one of them.

If it is the case that you have benefits you with to keep the you might want to consider a Section 32 contact which will allow you to keep these in tact.

There are not many providers offering a self invested Section 32 contract the only one I know of is www.merchant-investors.co.uk Many other providers of similar contracts but lack the self investing function

Hope this is of use.