Cheapest way to open SIPP with a provider that does not accept direct applications

PosterBoy77

I am interested in establishing a SIPP with a provider that only accepts applications via an IFA. I would like to open such a SIPP as the administration fees are quite reasonable and it offers the choice of investments I want. However I don't particularly need or want any advice. Are there any low cost IFAs that will simply handle the opening of such a SIPP as a low one-off fee?

bigadaj

mikael wrote: »

I am interested in establishing a SIP with a provider that only accepts applications via an IFA. I would like to open such a SIPP as the administration fees are quite reasonable and it offers the choice of investments I want. However I don't particularly need or want any advice. Are there any low cost IFAs that will simply handle the opening of such a SIPP as a low one-off fee?

Do you mean a sip or a sipp, and do you have a specific one ine mind, in which case it would be easier naming it.

PosterBoy77

bigadaj wrote: »

Do you mean a sip or a sipp, and do you have a specific one ine mind, in which case it would be easier naming it.

You spotted a typo, but I did mention SIPP twice, I have now corrected that. The one I have in mind is the simple investment SIPP from London and Colonial. They allow peer to peer investments within a SIPP. http://www.londoncolonial.com/products/simple-investment-sipp/

SIPP_Guru

Good Luck with that. Peer to peer is shunned by 98% of SIPP providers for a reason.

Alexland

Sorry I am not aware of an execution only broker that offers access to that pension. Maybe you could ask them if they know of one?

bigadaj

mikael wrote: »

You spotted a typo, but I did mention SIPP twice, I have now corrected that. The one I have in mind is the simple investment SIPP from London and Colonial. They allow peer to peer investments within a SIPP. http://www.londoncolonial.com/products/simple-investment-sipp/

A sip is, or certainly was, a different product, I'm not sure they are available any more.


They would have solved your issue around investing into alternative assets but were typically bespoke and consequently relatively expensive.

bigadaj

SIPP_Guru wrote: »

Good Luck with that. Peer to peer is shunned by 98% of SIPP providers for a reason.

I can see it would be time consuming for a sipp provider or do you mean something else?


I currently have far more in P2P than bonds, for good reason.

bigadaj

mikael wrote: »

You spotted a typo, but I did mention SIPP twice, I have now corrected that. The one I have in mind is the simple investment SIPP from London and Colonial. They allow peer to peer investments within a SIPP. http://www.londoncolonial.com/products/simple-investment-sipp/

They seem to only offer ratesetter as a P2P option, so doesn't look worthwhile to me.


I think you'd struggle to access this through an adviser as it is typically higher risk and they would struggle to recommend.


I believe sippclub offer p2p access, though I don't think they are low cost.

PosterBoy77

Alexland wrote: »

Sorry I am not aware of an execution only broker that offers access to that pension. Maybe you could ask them if they know of one?

I did ask them if they could suggest any IFA that could, but they said they don't offer advice, as is typical. Even the most basic of questions is answered like that these days. I have however found an IFA via Bark.com that will open one for me if I want it for about £250, which by IFA standards seems quite reasonable. If anyone is interested, pm me.

PosterBoy77

bigadaj wrote: »

They seem to only offer ratesetter as a P2P option, so doesn't look worthwhile to me.


I think you'd struggle to access this through an adviser as it is typically higher risk and they would struggle to recommend.


I believe sippclub offer p2p access, though I don't think they are low cost.

Thanks for the reply. I have today on further digging found that they do indeed only support the ratesetter platform, so I don't think it will be worthwhile for me.