SIPP advice

Wobblydeb

I want to set up a SIPP as my new employer does not offer a pension, and am looking for your thoughts on the various providers available.

I will be paying in about £700 / month and there is no lump sum to start it off with.

I want something with low charges and am interested in low cost tracker funds and/or ETFs.

What are your thoughts?

Gatser

Wobblydeb wrote: »

I want to set up a SIPP as my new employer does not offer a pension, and am looking for your thoughts on the various providers available.
I will be paying in about £700 / month and there is no lump sum to start it off with.
I want something with low charges and am interested in low cost tracker funds and/or ETFs.
What are your thoughts?

I would keep an open mind...
Do you REALLY want a SIPP?
I have been looking for something similar... SIPPDEAL is good for ETF's but I do not believe they are best for FUNDS.
I am now looking at the Skandia Collective Retirement (Pension) Account, a Personal Pension that has loads of FUNDS to choose from, including trackers. ETF's are not available yet.

I'll be interested to hear what you decide to go with....

Wobblydeb

Can you only access the Skandia SIPP through an IFA?

Gatser

Wobblydeb wrote: »

Can you only access the Skandia SIPP through an IFA?

The Collective Retirement Account is not a SIPP.... but it seems to have many advantages, like (potential) low cost.
I believe it can only be started through an IFA...but I am currently trying to find an IFA that will do this on a fixed fee basis. I have read on here (and Skandia website) that if you are not careful, IFA's can charge up to 4.5% of your investment as an initial set up fee...ouch!!!! i am not having that.
A reasonable fee would be circa £500....as a one off. (or less!!!)

Interested to compare notes....

Wobblydeb

Hmmmmm .... so far I've been looking at iii (who I hold my S&S ISA with) and Hargreaves Lansdown

HL is looking the more competitive of the two at the moment.

JamesU

Wobblydeb wrote: »

Hmmmmm .... so far I've been looking at iii (who I hold my S&S ISA with) and Hargreaves Lansdown

HL is looking the more competitive of the two at the moment.

Seem to remember HL not ideal for etfs though. 0.5%/yr charge to max of £200/yr + vat. Maybe check SIPP T+Cs.

JamesU

Gatser

JamesU wrote: »

Seem to remember HL not ideal for etfs though. 0.5%/yr charge to max of £200/yr + vat. Maybe check SIPP T+Cs.

JamesU

Good Point JamesU

That's why I went for SIPPDEAL.:T

JamesU

Gatser wrote: »

Good Point JamesU

That's why I went for SIPPDEAL.:T

Skandia CRA through an IFA also looked interesting.

Aswell as Tim Hale's essential guide on costings and asset allocation, the second book below on etfs and indexed funds is definitely worth a read:

http://www.amazon.co.uk/Smarter-Investing-Simpler-Decisions-Results/dp/0273722077/ref=wl_it_dp_o?ie=UTF8&coliid=I3HMA6EB7PM2S7&colid=2QWKNSD6OASHP

http://www.amazon.co.uk/Financial-Times-Guide-Exchange-Traded/dp/0273727834/ref=wl_it_dp_o?ie=UTF8&coliid=I15699ZA8LXUQ9&colid=2QWKNSD6OASHP


JamesU

Gatser

JamesU wrote: »

Skandia CRA through an IFA also looked interesting.

Aswell as Tim Hale's essential guide on costings and asset allocation, the second book below on etfs and indexed funds is definitely worth a read:

http://www.amazon.co.uk/Smarter-Investing-Simpler-Decisions-Results/dp/0273722077/ref=wl_it_dp_o?ie=UTF8&coliid=I3HMA6EB7PM2S7&colid=2QWKNSD6OASHP

http://www.amazon.co.uk/Financial-Times-Guide-Exchange-Traded/dp/0273727834/ref=wl_it_dp_o?ie=UTF8&coliid=I15699ZA8LXUQ9&colid=2QWKNSD6OASHP


JamesU

Thanks JamesU ... and I was wondering what to have for my birthday! :beer:
Yes... I am pursuing the Skandia CRA too ... just need to find an IFA to set it up execution only with no commission so I get some trail commission refunded to me... What are my chances?

JamesU

Gatser wrote: »

Thanks JamesU ... and I was wondering what to have for my birthday! :beer:
Yes... I am pursuing the Skandia CRA too ... just need to find an IFA to set it up execution only with no commission so I get some trail commission refunded to me... What are my chances?

Depends on what you are putting together I guess. But maybe need to compromise on fees for execution only for the benefit of reduced costs in the longer term. The Skandia CRA annual fees are low and as far as I understand for example, the Blackrock trackers on the platform have some of the lowest TERs and no commission, whereas others have trail commission that could be potentially rebated. So a good option, and suppose chances of success depend on compromise with upfront fees, whatever they should be. At the end of the day you get what you pay for just like anything else. That said, I do remember one OP on threads some time back having real difficulties finding a suitable fee based IFA, which I find surprising given it is not that long before the implimentation of RDR.

JamesU

rrf494g

I've used the on-line company SippDeal and found them low cost and efficient. They even have real people in Manchester who will talk to you, if ever the on-line service is not clear. As has been said above, the responsibility to mange the Sipp is with you, but then the yearly, and dealing, costs are rock-bottom.