Best Platform for just holding IT's in a SIPP?

MonroeM

ColdIron wrote: »

HL charge 0.45% capped at £200 with no other drawdown charges

In that case then Fidelity is the best option for me as their cap is £45 in total. Also, they don't have any early closure penalties for drawdown. So all in all it seems a great deal to me.

MPN

MonroeM wrote: »

In that case then Fidelity is the best option for me as their cap is £45 in total. Also, they don't have any early closure penalties for drawdown. So all in all it seems a great deal to me.

I use Fidelity for my IT's and have yet to find a better platform. As you rightly point out that their are no penalties and no charge for switches and a cap of £45 so that's very good in my opinion. It also has all the funds you could possibly need.

JohnRo

MPN wrote: »

It also has all the funds you could possibly need.

Yes but they (funds) also come with an additional 0.35% annual service charge on top of the £45 annual admin charge.

In terms of IT and ETF offerings, the availablity list is adequate for many of the popular vehicles but a very long way off what might be called extensive.

A_T

Fidelity's share dealing fee of 0.10% per deal is pretty good for small investors.

MPN

JohnRo wrote: »

Yes but they (funds) also come with an additional 0.35% annual service charge on top of the £45 annual admin charge.

In terms of IT and ETF offerings, the availablity list is adequate for many of the popular vehicles but a very long way off what might be called extensive.

Sorry, I meant to say IT's (not funds) and, yes, the list of popular IT's is adequate for me.

IanSt

A_T wrote: »

Fidelity's share dealing fee of 0.10% per deal is pretty good for small investors.

I'm not sure that the 0.1% charge will be remaining for long. The fidelity site is still saying 0.1% but I received a letter from them last month which I seem to remember talking about a change. Unfortunately I didn't keep it as I don't use them for investment trusts.

MonroeM

IanSt wrote: »

I'm not sure that the 0.1% charge will be remaining for long. The fidelity site is still saying 0.1% but I received a letter from them last month which I seem to remember talking about a change. Unfortunately I didn't keep it as I don't use them for investment trusts.

Would you mind me asking which platform you use for IT's, mainly because I can't seem to find a better deal than what is on offer at Fidelity (cap of £45), especially for SIPP's with no penalties or drawdown charges.

talexuser

My ISA is with iWeb at zero administration and £5 a trade since I don't swap much around and huge value for large amounts compared to the % platforms. My ITs are outside the ISA, again with zero administration and 2% a divi reinvestment, max £5. The IT selection suits me, website basic but fine (use trustnet and morningstar for detail) and I think the opening charge is now £25. Service has been very good for me, just depends how your totals work out compared to others (SIPP is with Cavendish/Fidelity at 0.25%).

A_T

IanSt wrote: »

I'm not sure that the 0.1% charge will be remaining for long. The fidelity site is still saying 0.1% but I received a letter from them last month which I seem to remember talking about a change. Unfortunately I didn't keep it as I don't use them for investment trusts.

I can't find anything about the 0.1% dealing fee changing.

IanSt

I found the letter. It talks about an online buy or sell charge of £10 and that this replaces the current fee of 0.1% for transactions in investment trusts and ETFs. The £45 annual charge cap does still remain as it was before. Regular transactions, including dividends is £1.50.

It doesn't say when this change will happen, it just says that the various changes it talks about will happen over the coming months. It may actually be a good thing for you. 150k of trusts would cost £150 on a 0.1% charge, so provided you are investing into less than 15 trusts then you'll be ahead.

There are some further details in https://www.fidelity.co.uk/doingbusiness.

My sipp is actually with alliance trust as I've a mix of funds, ETFs and investment trusts.