Are You Happy With Your SIPP Provider?

zagfles

Retyre wrote: »

I wasn't sure if the forum rules allow me to call a pole or score of SIPP providers so I thought I'd phrase this in the positive and ask members to put up the name of their SIPP provider if they are happy/impressed.

Thanks!

I use HL, very happy with them, their website is easy and efficient to use, their customer service is excellent, you can phone them and get to speak straight away to someone who knows what they're talking about.

They have a reputation for being expensive, but they're not for smaller SIPPs, they can be amongst the cheapest, and for larger ones they will negotiate on charges.

gadgetmind

zagfles wrote: »

for larger ones they will negotiate on charges.

I was moving pots at the stage where HL were between unilaterally imposed arrogance and realism. BestInvest offered me (and other existing customers) a great deal, HL were treating everyone like something rather smelly discovered on the soles of their shoes, so easy decision.

I wouldn't move back to HL even if they offered me a pen.

newlease

Just opened with Halifax. We will see.

dunstonh

newlease wrote: »

Just opened with Halifax. We will see.

That is an unusual decision. What made them attractive for you?

MadMat

zagfles wrote: »

I use HL, very happy with them, their website is easy and efficient to use, their customer service is excellent, you can phone them and get to speak straight away to someone who knows what they're talking about.

They have a reputation for being expensive, but they're not for smaller SIPPs, they can be amongst the cheapest, and for larger ones they will negotiate on charges.

I too am with HL, as I was starting from £0 and drip feeding into funds they worked out by far the cheapest for at least the first few years I'll have this SIPP.

And by the time they are no longer the cheapest the DIY markets may well have changed again anyhow!

I also like the £25 monthly minimum per fund, makes it easier if you want to "dabble" a bit I can split my monthly £100 across 4 funds if I want

Mat

webnibbler

My SIPP is with Alliance Trust Savings. I chose them because of the fix fee. Been happy with the online account and the service whenever I've spoken to them. The online account takes a bit of getting use to and is a bit confusing to start with, but otherwise good.

Recently though there is quite a bit of uncertainty around profitability and with the board changes at Alliance Trust. I've been thinking of moving to another fix fee platform, but for the moment I'm waiting to see what the new board do. I suspect it may involve a fee increase to try to reach profitability.

mgdavid

Charles Stanley Direct.
very happy.

newlease

dunstonh wrote: »

That is an unusual decision. What made them attractive for you?

Why "unusual"? Is it not a recommended option (along with iweb) on MSE, Monevator, etc. considering the flat fees and ability to access to international markets?

I have only just opened and haven't yet invested, if I have made a mistake please explain, I will only have paid a quarter's admin fee of 22.50.

Percentage based platforms become more expensive above the 30k portfolio level which I should have in a few years. If I compare to HL being mentioned, it looks like they charge 0.45% custody fee on everything capped at 200. (I'm not sure but I presume the 0.45% isn't more on top for funds). The most Halifax charges is 45 per quarter or 180 annually, which is below 200.

AJ Bell is the main one I was considering (most suggestions here seemed to stay away from iii and HL), they charge 25 per quarter or 100 annually and a further 50 per quarter or 200 annually for funds so in total 300.

So Halifax (or iweb) seem cheapest for portfolios above 30-40k unless funds are being avoided unless I missed a trick?

dunstonh

Why "unusual"? Is it not a recommended option (along with iweb) on MSE, Monevator, etc. considering the flat fees and ability to access to international markets?

It has a large menu of charges and trading costs on fund purchases.

I have only just opened and haven't yet invested,

And every time you invest, you pay charges. That will work out expensive if you intend to pay in monthly.

Percentage based platforms become more expensive above the 30k portfolio level which I should have in a few years. If I compare to HL being mentioned, it looks like they charge 0.45% custody fee on everything capped at 200. (I'm not sure but I presume the 0.45% isn't more on top for funds). The most Halifax charges is 45 per quarter or 180 annually, which is below 200.

HL is expensive in percentage terms. However, fund purchases and switches dont cost you.

What assets to you intend to buy and how frequently will you be trading, buying or switching?

zagfles

Snowman's spreadsheet will compare charges taking into account frequency of buying/selling etc.

http://forums.moneysavingexpert.com/showpost.php?p=64540489&postcount=15