How to invest in a SIPP?

cheerfulcat

dunstonh wrote:

I was thinking specifically of SIPPdeal here (who get frequently mentioned).

1 - charge £20 per purchase of unit trusts (and subject to potential initial charge)
2 - charge at least £9.95 for purchase of shares.
3 - charge £15 on every "single" contribution. £15 to commence or alter a regular.

As Ed has said, there are two SIPPdeal offerings; SIPPdealxtra does not charge for purchases or contributions.

EdInvestor

At Sippdealextra, any charges for the investment (as opposed to the wrapper admin) will be levied by the broker.

As I have said before the HL Sipp is cheaper for those who want to make regular contributions into funds.It is set up for this and has a system which is organised to suit people used to ordinary pensions.

The Sippdeal products are aimed at people whose main interest is share investment.However their charges are quite OK for anyone who wants to invest a few lump sums into funds as well.

Note also that with share type Sipps, you can often access products that are listed versions of funds ( eg investment trusts, exchange traded funds, offshore propertty trusts) which you buy like a share and can often have cheaper charges than the funds/unit trusts available in conventional pensions.

In a way, there is a kind of "parallel universe" out there