Flexible Drawdown

Possetjohn

gadgetmind wrote: »

From memory, they'd start paying attention when North of £200k, but I'd have to dig out the old thread to be sure.

BestInvest maintained their fixed fees for those already using equities, so I did a one-off switch from tracker funds to tracker ETFs. We now have 2x SIPPs and 2x S&S ISAs with them, and are very happy.

BTW, the personal pension providers are also very price competitive, and if you avoid their legacy funds are well worth a look, but they are likely to be stick in the muds when it comes to the new rules.

The SIPP, S&S ISA and additional pension funds would total up to approx £210k at present valuation so might be worth having a discussion with them!

Possetjohn

Just a bit of a Bump. Does anybody use Trustnet direct and have any comments on the service?

Orwell

Fidelity have essentially scrapped all ancillary charges around their SIPPs and ISAs, which would seem to make them a good bet.

zagfles

Orwell wrote: »

Fidelity have essentially scrapped all ancillary charges around their SIPPs and ISAs, which would seem to make them a good bet.

Yes but last time I looked they don't let you drawdown without taking advice, which you'd have to pay for.

spakkaman

Orwell wrote: »

Fidelity have essentially scrapped all ancillary charges around their SIPPs and ISAs, which would seem to make them a good bet.

I havent been in drawdown but I have a fairly large SIPP with Fidelity after recent consolidation of smaller funds and I have been unimpressed by the value of the Wealth management function - dont see what it adds - and their IT platform is poor when you try to use it - just not built around the needs of the consumer.

Orwell

I've just been speaking with Fidelity's Retirement Service today - they won't be charging me anything for going into drawdown. So I would check again on that point. You will have to speak to them so that they can make sure you're not about to do something silly, which took about 10 minutes.

zagfles

Orwell wrote: »

I've just been speaking with Fidelity's Retirement Service today - they won't be charging me anything for going into drawdown. So I would check again on that point. You will have to speak to them so that they can make sure you're not about to do something silly, which took about 10 minutes.

Interesting - so they're happy for you to go into drawdown without taking advice? Their website still says advice is required: https://www.fidelity.co.uk/investor/pensions/fidelity-sipp/options-at-retirement.page