SIPP Help / Advice

mrnomoneybags

Hi All,

I'm looking for a bit of advice on a couple of things for my SIPP pension.

My SIPP is with Fidelity, and in the last 12 months 1 Jan 2018 -> 1 Jan 2019 I completed 27 fund trades and in total cost me £450 in fee's

I had a look at the MSE article but struggling to figure out what works out the cheapest?

Also any advice on places with fund tips etc? last year I stop paying attention and my pension has gone from £69k to £57k

Thanks

MK62

mrnomoneybags wrote: »

Hi All,

I'm looking for a bit of advice on a couple of things for my SIPP pension.

My SIPP is with Fidelity, and in the last 12 months 1 Jan 2018 -> 1 Jan 2019 I completed 27 fund trades and in total cost me £450 in fee's

I had a look at the MSE article but struggling to figure out what works out the cheapest?


Also any advice on places with fund tips etc? last year I stop paying attention and my pension has gone from £69k to £57k

Thanks

If your funds are equity funds, then most such pots will be down over the last year.....that's the risk with equities I'm afraid......

That said, you are down about 17%, which does seem quite high - which funds are you investing in?
Also, unless perhaps it's regular extra money being invested, 27 trades seems pretty high on a 69/57k pot tbh.

Fidelity doesn't charge for fund (ie UT/OEIC) trades, so I can only assume you have been invested in Investment Trusts and/or ETFs......if trading UT/OEIC funds only, your charges should have been iro £200-240 (basically 0.35% of your total SIPP investment value).
While the £45 cap on the account charge for holding ITs/ETFs can seem attractive, if you do a lot of trading, then those trading fees mount up.....as do the bid/offer spreads and stamp duty (on ITs).

Linton

Advice on places with fund tips - avoid them. Much better to decide on your overall allocations, set up funds to provide them and then leave well alone, reviewing and rebalancing perhaps once a year. Should cut down on your trading costs as well.


I assume from what you say that you tend to buy and sell investments so as to invest in currently well performing or hyped funds, what has been called "fashion investing". If so that will not help achieve a good long term return. 27 fund trades on a £60K portfolio is excessive, unless you are drip feeding 2-3 funds every month.

dunstonh

Also any advice on places with fund tips etc? last year I stop paying attention and my pension has gone from £69k to £57k

And paying attention wouldnt have changed that. Indeed, if anything, it may have made it worse if you then started chasing returns.

Also any advice on places with fund tips etc

tips are bad. Where and how you invest is far more important.

My SIPP is with Fidelity, and in the last 12 months 1 Jan 2018 -> 1 Jan 2019 I completed 27 fund trades and in total cost me £450 in fee's

What are you investing in at the moment? £450 could be good or it could be bad. We have no context on amounts.