Any problems with this plan?

Lomcevak

I'm going to open a SIPP to supplement a defined-contribution plan at work [I am aware that a PP is arguably cheaper]. I'm a HR taxpayer, and will make an initial lump sum (this tax year) then contributions of about £10k per year initially (monthly, rather than lump-sum), likely rising to £20k per year within a few years. Retirement is at least 25 years away.

I'm not completely settled on my strategy for the SIPP investment mix, but need to do something this tax year so can't faff around much longer. So my plan is to open a Fidelity SIPP, primarily on the grounds that percentage fees are relatively low and there appear to be no exit fees so I retain flexibility to move elsewhere when I need to (either when fixed-fee becomes advantageous or when the fund-only nature of Fidelity limits what I want to do). I know cheaper percentage fees with a wider range of options exist (e.g. BestInvest) but come with substantial exit charges attached, which seem to outweigh the short term benefits.

Langcat seem to quite like the Fidelity offering http://langcatfinancial.co.uk/2014/01/next-please-fidelity-joins-new-world/

So before I pull the trigger, does anyone know of anything I've missed?

ss53

You don't need to decide the mix immediately for this tax year. as long as the cash contribution hits the SIPP by financial year end, you can sort out the fund contributions later.