Sipp Centre and IFAs

dunstonh

Standard Life SIPP has to be the worst "modern" product invented. Its a product designed to create abuse and cater for the worst type of adviser out there.

Each case I have come across with new clients with an existing Std Life SIPP it has been bad advice by their previous adviser (expensive, use of stakeholder or PPP better) and the complaints put in have been upheld and paid out. Nothing actually different to what certain people on here suggest on a frequent basis but advisers cant get away with in the same way forum posters can.

EdInvestor

The Standard life SIPP is very expensive and not worth bothering with it is just aimed at scooping up ordinary lifeco cutomers as DH says.

If you want something fairly bespoke the older traditional full service SIPP providers like AJ Bell or Suffolk Life may be a better bet. They will not necessarily be cheap but they will know what they are doing.

sunandwind

SL is being considered as its one of the handful that are known to accept investments of the type I am considering, others include Barnett Waddingham, Crescent Trustees Limited, Dentons, Mattioli Woods, Pointon York but I know little about them

EdInvestor

Pointon York has been around a long time and are Sipp specialists.BW are basically consulting actuaries, not SIPP providers.Don't know the rest..

http://www.sippsolutions.com/about_us.html

whiteflag_3

dunstonh wrote: »

Standard Life SIPP has to be the worst "modern" product invented. Its a product designed to create abuse and cater for the worst type of adviser out there.

Each case I have come across with new clients with an existing Std Life SIPP it has been bad advice by their previous adviser (expensive, use of stakeholder or PPP better) and the complaints put in have been upheld and paid out. Nothing actually different to what certain people on here suggest on a frequent basis but advisers cant get away with in the same way forum posters can.

thats why they have the money to peddle this dross

http://www.activemoneysipp.com/?&WT.mc_id=AMP&WT.srch=1

sunandwind

The Standard Life SIPP does not seem too popular on here! So what suggestions are there for a relatively low cost SIPP which is able to take the widest range of investments, including private equity (ie preferably almost anything that is permitted under the rules)?

The SL charges for this type of SIPP (the outer layer of their charges target) appear to be a one-off admin fee of £302 and a yearly admin charge of £416 (reducing for funds greater than £100K) and they have a variety of transaction charges These charges don't seem too bad for this level of flexiblity.

Any alternative ideas? Subject to ongoing negotiation with my IFA, I may need a SIPP I can set up, at least initially, without an IFA!