SIPP providers? Halifax or Hargreaves Landsdown?

undermanager

for various reasons, I no longer want my AVC in Prudential (value about £100K). I now want to move it into a SIPP so I can have more control over the investments made. Any suggestions on a SIPP provider? What should I look out for? I currently use Halifax for a share account and a share ISA so am minded to go with them. They seem cheaper than Hargreaves, although the heavy marketing by Hargreaves makes me wonder if they are quite as good as it seems. They do seem to have low charges as well. So, who to pick? Comments / suggestions / advice?

dunstonh

What should I look out for?

Depends on what services and investments you are looking to use.

Also, whether you want it to already comply with 2014 rules or be prepared to change it again when 2014 rules are applied.

They do seem to have low charges as well.

I dont know what Halifax offers or charges or what the services are like. I would guess simplistic given its a bank product but their old share account was pretty good if you didnt want anything extra. HL is good for funds but is pre 2014 pricing and will have to change.

kidmugsy

My AVC claims that I can't transfer it to a SIPP. You have checked for yours, have you?

undermanager

Yes, transfers are no problem. Had the valuation and transfer docs. Also looking at Sippdeal, which seem very goog value. I intend to buy 15 or so shares in unexciting solid performers, and leave them in place for 9 years. Then perhaps a few trades per year. I won't be buying and selling regularly and will be avoiding funds.

All advice welcome.

want_to_save

i would also have a look at sippcentre as they are increadibly cheap

jamesd

HL do not have low charges. They are some of the most expensive around for unadvised investing.

First thing to do is decide how you want to invest the money and work out how often you will be adding to it. Then you can compare the charges at various places for those things.

For places like HL that are paid out of commission from funds you'll need to know how much they are taking so you can compare that to the places that charge an explicit fixed or percentage fee instead. For most managed funds you can assume that HL is getting about 0.4%, though it varies.

For shares it's even worse. They currently charge 0.5% a year. Given your plan to use shares, forget HL at their current pricing.

HL are likely to update their pricing around the end of the year.

grey_gym_sock

for shares in a SIPP, HL's 0.5% p.a. charge is capped at £200 per year. which is not a lot on a £100k pot. though it's £200 more than sippdeal charge.

planteria

dunstonh wrote: »

HL is good for funds but is pre 2014 pricing and will have to change.

i will be observing these changes keenly dunston.

FatherAbraham

undermanager wrote: »

for various reasons, I no longer want my AVC in Prudential (value about £100K). I now want to move it into a SIPP so I can have more control over the investments made. Any suggestions on a SIPP provider? What should I look out for? I currently use Halifax for a share account and a share ISA so am minded to go with them. They seem cheaper than Hargreaves, although the heavy marketing by Hargreaves makes me wonder if they are quite as good as it seems. They do seem to have low charges as well. So, who to pick? Comments / suggestions / advice?

Compare the usual suspects: http://monevator.com/compare-uk-cheapest-online-brokers/

Don't rush into a decision, since SIPP transfers cost fees.

Warmest regards,
FA