Time for fixed fee platform?

GavB79 · 26 March 2017 at 9:39PM

I have been shopping around for a SIPP provider and read that for low value pots a percentage charge platform is the way to go. I don't have any money in a SIPP currently and would be paying in around £8k per year (grossed up).

My S&S ISA is with Charles Stanley and the SIPP charges are the same as for the ISA, being 0.25%. Due to my ISA holding the £100+VAT SIPP fee would be waived.

However it has dawned on my that as my ISA value has increased (circa £70k), I would be better off with someone like iWeb who charge a flat fee? I am only in VLS100 which I purchase once per month, so that would only be an annual charge of £5 x 12 = £60? The Vanguard charge is the same for each platform.

But then if I moved the S&S ISA, I'd have to pay the SIPP fee if I used CSD for the SIPP.

Which platforms would you use in my situation, assuming 1x fund purchase per month into each vehicle, being a £70k ISA and a newly opened SIPP?

Many thanks

grey_gym_sock · 27 March 2017 at 12:00AM

for a SIPP, cavendish online (fund supermarket pension) or close brothers charge the same 0.25% as charles stanley, but without any additional SIPP fee.

for your ISA, iweb is OK, though halifax share dealing (and iweb is actually halifax SD under another name) could be a bit cheaper: £12.50 annual fee, but purchases are only £2 if you use "regular dealing", so a total of £12.50 + (£2 x 12) = £36.50 a year.