Fee to transfer DB pension to SIPP

[Deleted User]

Well, hypothetically, if any particular investment is not covered by that platform, e.g. a particular ETF. Also I will use various cash accounts and an NSI investment.

HappyHarry

stocklord wrote: »

Once I have set up the SIPP I intend to use various brokers/platforms to trade

I'm already feeling very nervous about this DB transfer, and I'm not even advising on it!

dunstonh

Well, hypothetically, if any particular investment is not covered by that platform, e.g. a particular ETF.

Why would that make you want to use multiple platforms?
ETFs have no FSCS protection regardless of which or how many platforms you use.

I'm already feeling very nervous about this DB transfer, and I'm not even advising on it!

I know we only have limited information but if this was a first meeting discussion, I would probably be looking for my excuses to say farewell at this point

[Deleted User]

Who asked about FSCS protection? Do you know anything about my investment background? How about answering my query?

dunstonh

Who asked about FSCS protection?

We are just trying to find out why you would want multiple platforms? Based on what you have said so far, there is no logical reason for that. FSCS protection is one that sometimes people use.

Do you know anything about my investment background?

No. However, what little you have said doesn't indicate a high knowledge background and a few things that set off alarm bells.

How about answering my query?

How about giving sufficient information to allow it to be answered?

[Deleted User]

I will use a fund platform and a broker platform, with possibly other brokers for specific instruments, along with various cash accounts. Therefore I wish to use a portfolio manager that amalgamates all my holdings.

I would be interested to know what information I have provided that implies I have little investment experience? What I don't have is SIPP experience, which is why I am posting.

HappyHarry

I suspect most IFAs with the pension transfer permissions would be nervous about giving advice, going on what you have posted so far. DB transfers are probably the highest risk bit of business an IFA can do (high risk both to the client, and the IFA). These transfers are quite rightly under the FCA spotlight at present, and this is even after recent FCA regulation changes in this area that came into force 5 months ago.

However, to try and answer your queries ...

This seems ludicrously cheap compared to everyone else - would welcome your thoughts

I agree, it seems ludicrously cheap.

any recommendations.

No, apart from ensure you're using an IFA, and keep an open mind about the benefits of such a transfer until you have taken on board all the pros and cons that your IFA tells you about.

LHW99

I would be interested to know what information I have provided that implies I have little investment experience? What I don't have is SIPP experience, which is why I am posting.

A SIPP is just a wrapper. What matters is what you put in it - that can be shares, OIECS, ETF's IT's and if you go more expensive / specialist - property, savings products, and perhaps other things.
Decide what you want to have and then decide what wrappers let you do it - and how much they charge for the privilege. The more esoteric the more the cost!

[Deleted User]

I know what a Sipp is, and I know what is permitted within it. I just wondered if anyone can recommend some portfolio management software, or even a spreadsheet template. That's it, very simple. I haven't at any point asked anybody's opinion on whether I should be transferring or how secure my investment choices are.
I am surprised by the judgemental nature of some of the responses, is this normal for this forum?

kinger101

You can plug most of your portfolio into trustnet.

https://www.trustnet.com/

You're being quite abrasive to many people on here on go out of their way to help people with investment queries. The reason they appear judgemental is you don't seem to know what you're doing, and probably want to prevent you from making grave errors.

If you were the financial sage your believe yourself to be, you wouldn't have needed to ask the questions you've posted on here. Good luck.