YouInvest or Interactive Investor

talexuser

I'm with iWeb, can't recommend YouInvest because of their policy on hiking charges when they feel like it making you very much worse off.

EdSwippet

talexuser wrote: »

I'm with iWeb, can't recommend YouInvest because of their policy on hiking charges when they feel like it making you very much worse off.

The Pension Administrator for the iWeb SIPP is ... AJ Bell (aka Youinvest)!

With that said, this should not be a problem for the iWeb SIPP. iWeb is Halifax Sharedealing under the covers, and a fine flat-fee choice for SIPPs, ISAs, and trading accounts. In all cases it will be the platform -- that is, Halifax -- that controls the fees here. iWeb are just subcontracting the actual pensions admin work to AJ Bell. So any future sudden and/or egregious hikes in Youinvest platform charges ought not to affect iWeb.

Nevertheless, it is worth knowing about the connection here. It turns out that AJ Bell are also the Pension Administrators for several other non-Youinvest SIPPs. Barclays, Cofunds, and until recently TD Direct Investing, to name three. But not Interactive Investor.

Reaper

jimmyjones wrote: »

With YouInvest I would have to invest in ETFs to make the fees reasonable

Using Investment Trusts allows you to access actively managed funds but only count as shares when it comes to platform fees.

jimmyjones_2

I have done done a bit more research and I am now favouring moving to a Fidelity SIPP invested in ETFs. They have a limited ETF range but enough passive options for me.

The platform fee for ETFs is capped at £45 per year and they charge 0.1% for buying / selling ETFs.

So, I would pay about £190 in the first year for the platform fee, initial investment and dividend reinvestment. In subsequent years I would only pay about £50 for the platform fee and dividend reinvestment.

As a bonus, I would get £100 cashback for transferring my company pension and they would also reimburse my £225 BestInvest exit fees.

Also, Fidelity don't charge an exit fee.

It seems too good to be true.

System

Being out of the market for a few days can be a little risqu! in itself
Prices could go either way

philng

I opend a SIPP with Fidelity 12 months ago due to the low charges when only holding Investment Trusts.
Dividends can be a little slow to credit but other than that I am paying just £45 a year (deducted monthly) with as you say low dealing costs (no minimum).
Overall I am quite happy with Fidelity.
There is only a limited number of IT's you can select but enough to choose from the most popular ones & you cant hold individual shares.

talexuser

If Fidelity suits I would go through Cavendish Online since the charges are 0.25% with no £45 fee if you want funds, same funds, same platform. If ETFs may not matter.

jimmyjones_2

talexuser wrote: »

If Fidelity suits I would go through Cavendish Online since the charges are 0.25% with no £45 fee if you want funds, same funds, same platform. If ETFs may not matter.

Going through Cavendish Online would be far more expensive because they don't have the £45 cap for holding ETFs.

parking_question_chap

I also got poor service from ii.

Had an account but they kept writing to me insisting I owed money for a service I never signed up for. Took several emails and phone calls for them to confirm I didnt owe anything, and another couple of emails to get them to stop sending letters. Closed the account soon after and went elsewere.

Mandelbaum

Informative thread that I'd like to resurrect, since I'm also considering YouInvest vs. iii as a home for my SIPP.

I also have an account with Cavendish already which I agree is very cheap however not great for transparency when buying and selling funds - it takes a few days for the transaction to happen and they're not very specific on what price I get.

Are either of YouInvest or iii (or any of the other platforms) better at being a bit more scientific on the execution of buying and selling funds?