Sipp Platform provider

Yanling

Hi all, I see that the AJ Bell has won an award for best sipp 2018. but I also see it has lots charges. any opinions?

dunstonh

Yanling wrote: »

Hi all, I see that the AJ Bell has won an award for best sipp 2018. but I also see it has lots charges. any opinions?

Ignore awards. That is just marketing (note two awards were from newspapers where advertising exists). The other awards are meaningless just as most awards are.

Some companies have very active staff who encourage advisers, paraplanners, admin staff or whoever to vote for them. Most companies to not. So, you tend to get a small cluster of companies receiving these so-called awards because of badgering. And those doing the voting are doing it for the rep they like. And often, they have little or no experience of any of the alternative companies. So, not really in a position to say they are best. Their provider may do everything they want but they may not realise that a different provider does more or better.

Some really awful plans win awards. It shouldn't be one of your research filters.

xylophone

https://www.moneyobserver.com/best-sipp-platforms-your-portfolio-2018

may be worth a read through.

pantaiema

MallyGirl wrote: »

can you confirm the amount and what frequency

I am already over 55 and earn 52k at the moment. I prefer a passive investing. and I will try to max out my tax allowance each year.

So this tax year I will put about 15k. I will put again another 15k in the next tax year. The frequency is probably twice a year.

dunstonh wrote: »

Why VLS? VLS is not the cheapest multi-asset fund. So, if you are cost focussed, why are you picking that?

I am new to investing. Reading from this MSE I have seen reasonable number of people are choosing the VLS. I understand Vanguard is currently does not have SIPP and we want to buy we will need to use the third party. Am I right? Certainly as a newbie in investing, I am open for suggesting from knowledgeble people. Thanks again for your time.

dunstonh

I am new to investing. Reading from this MSE I have seen reasonable number of people are choosing the VLS. I understand Vanguard is currently does not have SIPP and we want to buy we will need to use the third party. Am I right?

Yes, the Vanguard funds are popular but they are no longer the cheapest multi-asset funds (0.33% for most of the VLS funds vs 0.20% available with others).

They are good at what they do but they are not a perfect solution. They were popular early on as they were instrumental in bringing costs down. However, as so often with various retail products, the next thing comes along, and then the next..... Some of that popularity continues and you wouldnt be disappointed with them. They don't hold the crown for lowest cost any more.

xylophone

Vanguard does not currently offer a SIPP.

http://monevator.com/category/investing/passive-investing-investing/

BoGoF

dunstonh wrote: »

Yes, the Vanguard funds are popular but they are no longer the cheapest multi-asset funds (0.33% for most of the VLS funds vs 0.20% available with others).

They are good at what they do but they are not a perfect solution. They were popular early on as they were instrumental in bringing costs down. However, as so often with various retail products, the next thing comes along, and then the next..... Some of that popularity continues and you wouldnt be disappointed with them. They don't hold the crown for lowest cost any more.

What would you recommend that would be similar to VLS60/80 but with cheaper costs?

dunstonh

BoGoF wrote: »

What would you recommend that would be similar to VLS60/80 but with cheaper costs?

I would be in breach of FCA rules if I answered that. However, if you look around the board, you will see threads with the answers on them by those that dont have the restriction I have.

I am also disregarding advice options where product/fund costs totalling 0.2x% to 0.3x% p.a. are possible but you would typically have an advice fee of around £500 on those and the OP is looking to DIY.

xylophone

OP may find this thread of interest

https://forums.moneysavingexpert.com/discussion/5650117/alternatives-to-vanguard-lifestrategy&page=2https://forums.moneysavingexpert.com/discussion/5650117/alternatives-to-vanguard-lifestrategy&page=2

BLB53

Which platform provider should I apply? Any experience, advice or recommendation? Thank you!

I have been with AJ Bell for over a decade and would recommend but they do charge £1.50 per transaction for funds...ideally you you want a platform with no transaction charges such as HL but they charge a hefty 0.45% platform fee so you need to compare.

Here's an article on DIY Investor which should help?
http://diyinvestoruk.blogspot.com/2016/08/selecting-your-diy-pension-platform.html

VLS or HSBC Global Strategy are both a good all round choice for starters.