SIPP, Hargreaves Lansdown and Funds

pjala

What is a "fund based trail"?

EdInvestor

It's a type of commission payment.

dunstonh

...which HL and the others keep for themselves. Hence why Selestia can be cheaper when arranged through the right adviser.

sdmitch

I am about to embark on the process of opening up a SIPP. I've been looking at Baillie Gifford (managed through Alliance Savings Trust). I've been attracted to them by the following:
1. Wide Range of Investment Choices
2. No Setup charges
3. No annual charge
4. Low dealing charges - £15 on a daily purchase or £7.50 on a weekly purchase - no charges on their own funds.
5. Available without the use of an IFA

See the following link for full details:

http://www.bailliegifford.com/retail/sipp/sipphome.asp#

Having read through the entire thread, I'm trying to find a reason why I shouldn't go with a Baillie Gifford Select Pension - can anyone give me one please?

EdInvestor

As with all SIPPs, it's a question of what you want to invest the money in and what services you require from the SIPP provider.(I assume the BG version costs the same as the ATS direct SIPP).

ATS direct charges and interest rates are here

Suggest you compare with the SIPPs offered by

https://www.hargreaveslansdown.co.uk and

https://www.sippdeal.co.uk

[If you are likely to be doing a lot of share trading, you might also like to look at https://www.sippdealextra.co.uk ]

ATS has a very cheap (unbeatable) deal if you want to invest in its in-house trusts and don't mind when the purchase is made.It's one of the three most competitive providers (see above for the other 2) but you may find the exact package you want can be more cheaply supplied by one of the others.

KevWal

dunstonh wrote:

...which HL and the others keep for themselves. Hence why Selestia can be cheaper when arranged through the right adviser.

Hi

I'm currently looking for the 'right adviser' for transfering an Equitable Life pension into Selestia, be that a very discounted broker with no advice (like Cavendish but they dont list it), or a discounted broker with basic advise and service.

Can anyone recomend people in either category?

Cheers
Kev, kevin@unseen.org
(Northamptonshire, UK)

JohnG

Hi,

A while back I spent some time deciding what or where to go with my small Equitable Life WPs pension fund.

Whilst I was deciding what to do I switched the funds within Equitable Life from With profits to unit linked as suggested by the very helpful Edinvestor. It meant paying an 8% transfer fee which was a blow but could not be avoided however I was amazed to find that after only a short time in the a Eq Life Unit Link fund it seemed to more or less recover the 8% loss where before in the WP fund it had been stagnating for a year or two! So this was obviously a bit of a bonus.

Anyway, I finally took the plunge and set things in motion to transfer the whole fund over to a medium risk SIPP with HL.

What I hadn't realised until I halfway through the process was that HL SIPPS are unable to accept Protected Rights funds and it wasn't until I receieved confirmation of the transfer from Equitable that one third of my pension turns out to be "Protected Rights"! I had no idea so now, having thought I had finally put everything to bed so that I can stop worrying about my blasted pension I've got to look at what to do with the remining fund still with Equitable - what an absolute nightmare pensions are! They're enough to send you to an early grave........:wall:

dunstonh

hybrid SIPPs (fund supermarket pensions) can take protected rights (and be cheaper than HLs SIPP) or you can wait until next year when full SIPPs can take protected rights.

JohnG

Hi Dunstonh,

Are yes, the Hybrid SIPP. I'll be honest, I kind of gave up with trying to follow discussions on Hybrids and the like and hence decided to stick with what I thought would be belt & braces type of SIPP with HL.

I gather the government for some reason delayed allowing protected rights on the standard SIPPS but as you say, this will hopefully change in the coming year at some point? Whether I should leave the remaining fund in Equitable Life for the time being is somewhat debatable though I feel?

EdInvestor

You will have to have 2 Sipps anyway (one for the PR one for the non PR, I know, I know, it is horrendous.:rolleyes: ), so you could just leave the PR money behind (if it is possible) for the moment.

You could also consider https://www.epml.co.uk as an alternative.They are another low cost provider which will take PR money. You can only invest it in cash for the time being, but the interest rate is not bad IIRC. I imagine you would have to transfer both funds.

After next April should be posssible to shift the PR money into normal investments.