Finally moving the SIPP
Options
Comments
-
(This only relates to stocks; ITs, ETFs, and share investments)
Based on the migration to their new(ish) online trading platform for SIPP accounts and the RI trading charge of £1.50 per trade, I followed up with Fidleity to see how RI charges would be managed. The reason for this is that Fidelity (like most I believe) process/invest RI (monthly) in two stages; the first being the net contribution with a following transaction for the associated tax relief.
Under the new charging structure for RI (£1.50 per trade) this makes the cost associated with the tax relief amount a far higher percentage of the amount than I would ideally prefer. Currently depositing £200 so, £50 TR works out as 3%. Even the percentage for the £200 contribution is higher than I usually like (aim for less than 0.25% for dealing charges).
I may re-assess the RI, and potentially deposit as cash and then invest periodically.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards