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Sipp Platform provider
Yanling
Posts: 124 Forumite
Hi, I am going to invest a sipp for 10 to 12 years, with £500 / month payment, buying multi-asset funds, would like to set it up this month.
Which platform provider should I apply? Any experience, advice or recommendation? Thank you!
Which platform provider should I apply? Any experience, advice or recommendation? Thank you!
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Hi, I am going to invest a sipp for 10 to 12 years, with £500 / month payment, buying multi-asset funds. I do not like a fee for income drawdown. Any experience, advice or recommendation? Thank you!
You need to consider all costs. Processing of drawdown and managing a PAYE system requires people and IT facilities which must be paid for. I would expect you to find that those platforms that do not charge for drawdown have higher charges elsewhere.
Since you wont be drawing down for 10 years the charge for drawdown is currently irrelevent. Perhaps it would make more sense to choose a platform now with low costs for accumulation and consider transfering elsewhere once you are approaching drawdown.0 -
For £500 regular contributions in the accumulation phase of life I would consider something like a Vanguard LifeStrategy mixed asset fund on Cavendish. Total cost 0.22% for the fund and 0.25% for the platform. No exit charges so you can move it to the most attractive platform for drawdown later in life.
https://www.cavendishonline.co.uk/pensions/
However I am pretty confused by Yanling's recent posts as we had very similar threads earlier in the year.
Alex0 -
Hi, Thanks for your help. I set up isa with vanguard this early year. now I am learning sipp. I am thinking of two sipp providers, how about Fidelity too?For £500 regular contributions in the accumulation phase of life I would consider something like a Vanguard LifeStrategy mixed asset fund on Cavendish. Total cost 0.22% for the fund and 0.25% for the platform. No exit charges so you can move it to the most attractive platform for drawdown later in life.
https://www.cavendishonline.co.uk/pensions/
However I am pretty confused by Yanling's recent posts as we had very similar threads earlier in the year.
Alex0 -
Cavendish are essentially reselling the Fidelity SIPP at a lower cost with less features.
If your ISA is invested with Vanguard then perhaps consider investing with a different fund manager such as the Blackrock Consensus or HSBC Global Strategy fund series.
Alex0 -
I chosen vanguard because they are ready made and managed portfolio which is good for me as I did and still do not know the rebalancing. recently I know that I can buy multi asset funds instead of rebalancing, I am going to try real sipp.Cavendish are essentially reselling the Fidelity SIPP at a lower cost with less features.
If your ISA is invested with Vanguard then perhaps consider investing with a different fund manager such as the Blackrock Consensus or HSBC Global Strategy fund series.
Alex
I will look into cavendish. thanks0 -
I will look into cavendish. thanks
Here are the links to the similar Blackrock Consensus and HSBC Global Strategy mixed asset fund series which you should be able to get in a Cavendish SIPP.
https://www.blackrock.com/uk/intermediaries/literature/brochure/blackrock-consensus-funds-brochure.pdf
https://www.assetmanagement.hsbc.co.uk/en/intermediary/investment-expertise/multi-asset/hsbc-global-strategy-portfolios
Alex0 -
Similar question here. I ma planning to invest GBP 15.0000 lumps into SIIP what is the cheapest provider for this where I could invest in Vanguard life strategy. Thanks0
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Similar question here. I ma planning to invest GBP 15.0000 lumps into SIIP what is the cheapest provider for this where I could invest in Vanguard life strategy. Thanks
can you confirm the amount and what frequencyI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Similar question here. I ma planning to invest GBP 15.0000 lumps into SIIP what is the cheapest provider for this where I could invest in Vanguard life strategy. Thanks
Why VLS? VLS is not the cheapest multi-asset fund. So, if you are cost focussed, why are you picking that?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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