Sipp Platform provider

Alexland

adindas wrote: »

Apart from exit fee which sometimes need to be paid. What other cost involved if you want to transfer SIPP from one platform to another platform.

How easy it is to transfer from one platform to another platform ??

Its not that hard for someone with reasonable capability to manage their financial affairs and with the right providers it can cost nothing. Some providers charge for transfers-out, transfers-in, inspeccie transfers, etc.

My view is if you have enough accumulation phase ahead go for the cheapest platform (for your current needs) and review your options later with a view to possibly transfering when you aproach drawdown.

Alex

cogito

I transferred from Standard Life to Fidelity a couple of years ago and found it a rather long drawn out process - about three months as I recall - mostly because of in specie transfers and Fidelity didn’t offer a couple of the funds which complicated things. I had to sell and purchase other funds but it was actually easier to buy them through Standard Life as that meant that I was not out of the market for any time. I wouldn't particularly recommend Fidelity as their offering is almost exclusively funds with some notable omissions and no offering of investment trusts.