SIPP admin charges - reasonable level

roytom

Hi All,

Is an admin charge on my SIPP of 0.25% of the value of the SIPP twice a year a reasonable amount or should I move this elsewhere to another provider?

Thanks,
Roy

dunstonh

what assets are you utilising? How would a fixed fee compare to a percentage fee? (i.e. larger pot is better with fixed fee but small pot unlikely to be)?

Cautious_Investor_3

dunstonh wrote: »

what assets are you utilising? How would a fixed fee compare to a percentage fee? (i.e. larger pot is better with fixed fee but small pot unlikely to be)?

Hi

I agree, you need to tell us how much you have invested and what type of assets you hold. It would also be useful to know which SIPP provider you are referring to.

The Cautious Investor

roytom

The pot is only £15,000 at the moment, consisting of shares in the SIPP, and will be transferred to TDWaterhouse. There is a minimum charge of £ 40.00. Does this help with any suggestions?
Thanks
Roy

dunstonh

The pot is only £15,000 at the moment and will be transferred to TDWaterhouse. Does this help with any suggestions?

My only comment on that is what are you doing using a SIPP for a small pot of just £15000. I doubt it would be cost effective at this stage unless there is some specific SIPP feature you need to use.

lvader

I've been looking at SIPPS and while I like the flexibilty they seem a bit expensive expecially if you are looking to buy funds. Even if you find a SIPP with no AMC you still have an AMC on the undividual funds typically of around 1-1.5%. At the moment I'm only paying around 0.5% for most of my funds (in a group pension scheme). Then you have the dealing changes on top of that.

purch

consisting of shares in the SIPP, and will be transferred to TDWaterhouse

I would add that TD Waterhouse is a very good trading platform.