Cheapest Sipp: build yourself a low cost DIY pension article

GTG

So from the corrections to my last post AFAIA it looks like H&L are the most cost effective SIPP for solely OEIC's and Unit Trusts and Alliance takes the prize for other investment vehicles.

The only exception I can think of as far as equities are concerned are Sippdeal who's trading commission starts at £9.95 for deals under £500, more of a gimmick to attract people's attention then anything else IHMO http://www.sippdeal.co.uk/charges.aspx I think I'm correct in saying that Sippdeal offer the facility to deal in a limited number of european and US stocks so it may be your best choice depending on your investment horizons.

I don't think there is anything to stop one opening more than one SIPP in order to minimize charges.

dunstonh

So from the corrections to my last post AFAIA it looks like H&L are the most cost effective SIPP for solely OEIC's and Unit Trusts and Alliance takes the prize for other investment vehicles.

If you are limiting yourself to SIPP then thats about right. There are alternative options for UT/OEICs with Scottish Widows, Selestia and Transact which can beat HL but typically require larger values and an IFA willing to do execution only. Although people with larger value portfolios tend to use IFAs anyway so its not a problem most of the time.

GTG

dunstonh wrote: »

If you are limiting yourself to SIPP then thats about right. There are alternative options for UT/OEICs with Scottish Widows, Selestia and Transact which can beat HL but typically require larger values and an IFA willing to do execution only. Although people with larger value portfolios tend to use IFAs anyway so its not a problem most of the time.

Interesting stuff, I'd imagine lamanga2004 will be pleased with the attention his enquiry has received.

dunstonh, "an IFA willing to do execution only" is that the same as saying "to work on a fee only basis". Thanks

dunstonh

dunstonh, "an IFA willing to do execution only" is that the same as saying "to work on a fee only basis". Thanks

Execution only is when you approach an IFA and say "i want to do this with this company, what discounts will you give as I am doing it myself". All the IFA is doing is supplying the application and processsing the application.

Remember that the discount brokers you often see mentioned on here (HL, Cavendish etc) are IFAs. They are IFAs with a website who discount certain products. All IFAs can choose to do execution only or not (although salesforce IFAs and IFAs attached to a firm that dont get trail commission probably will choose not to). Before the internet, the DIY person just approached IFAs in this way. You still get it from time to time.

Execution only may be processing something with no initial commission, paying a small fee just to handle the cost of processing or for larger funds, no initial commission and a rebate on trail as well.

EdInvestor

dunstonh wrote: »

.Remember that the discount brokers you often see mentioned on here (HL, Cavendish etc) are IFAs. They are IFAs with a website who discount certain products.

Rather like the IFAs you occasionally see mentioned on here who are really discount brokers without a website who charge for advice as well.

2commakid

I currently trade FX and FTSE futures using the NinjaTrader platform (making around 10% per month on my account - far better than my pension fund manager!)

I recently discovered that I can set up a SIPP to trade CFD's (Contracts For Difference), the problem is that from my research there are not that many companies providing this product yet, has anyone any recomendations on a SIPP able to trade CFD's preferably using NinjaTrader?

Thanks

EdInvestor

Some possibilities here:

http://www.sippdealextra.co.uk/stockbrokers.asp

purch

..........or here

http://www.etradeprofessional.co.uk/cfds_sipp_cfds.asp

(basically the same as sippdeal but using ETrade's platform)

Rocking_Robin

Is there a table that lists best performing FUNDS?

dunstonh

Rocking_Robin wrote: »

Is there a table that lists best performing FUNDS?

Best performing in what way, when and against what risk?

Fund performance doesnt work that way. A fund could be top in one period because it took higher risks which paid off during that period but it could plummet in the next period as the higher risks failed and hit it badly. A fund in the second quartile could be plodding along with second quartile consistency and beat the top fund of any given period over the long term.

There are plenty of websites that have tables but they are useless without knowing the risk profile and investment aims and objectives of that fund. Morningstar and Trustnet are two of the most popular fund research sites.