Alliance Trust Savings

getting_close

Hello to everyone,

I have tried a search on this but nothing much coming up so here goes:-

I am in the process of looking at suitable platform for opening a SIPP to transfer a couple of DBC pensions and with intention of going into drawdown next year.

As Alliance Trust Savings work on a fixed fee for their platform, their charges look attractive compared to most of the percentage charging platforms.
Has anyone any insight on the service ATS provide, ease of use of the web site, purchasing/selling funds/trusts, accounting, etc. it would be greatly appreciated.

coyrls

I've been going through the same process. I had pretty much decided on Alliance Trust Savings but then had second thoughts. The main reason for my rethink is the current changes that are going on at Alliance Trust. In summary they have split off the currently loss making Alliance Trust Savings as a separate organisation from Alliance Trust and made a number of concurrent management changes. This has come about partly because of “activist” shareholder pressure. My understanding is that Alliance Trust Savings will be under more scrutiny to become profitable and if they are unable to do this, they may look to sell off the business. See http://citywire.co.uk/new-model-adviser/news/platform-problems-alliance-trust-savings-faces-profit-pressure/a811765


From a customer perspective there is a risk that the requirement to make more money from the business will result in higher charges or that an ultimate sell off would result in disruption and again the possibility of higher charges.


Also I’m not sure how actively ATS are looking for new business. Currently there are no incentives to transfer. I think they may be tied up in absorbing the recently acquired Stocktrade business as they will be nearly doubling the number of customers http://www.heraldscotland.com/business/13213861.Alliance_Trust_Savings_to_buy_Stocktrade_for___14m/

Observers said yesterday the project would be a testing one, given that ATS has yet to complete the migration of its own customers onto a new software platform, and it would now have to integrate another business as well.

My current favourite is AJ Bell Youinvest but I would be interested in what others think.

getting_close

Thanks Coyrls,


I have a time frame to make a decision by latest January,
I have a small S&S ISA with CSD, and up to now their service has been ok. So they may also be in the running, but not 100% sure on all their charges for draw down.