Information from SIPP trustees

Paul2212

Thank you for your responses - Prism - as you say if it isn't a common situation I am not going to get consensus as to whether the service we are getting is normal or poor. Thanks anyway for taking the time to respond.

SeniorSam

Sipp platforms usually provide an annual statement. Wanting statements monthly is not practical. Any investments OTHER than the property can be monitored by you within the Fidelity platform, but is this a case where your capital in the Sipp was used to purchase a property or business premises in which you are involved ?

Although a property can be held within a Sipp, it is not usual, as there is a higher risk and no assurance that the value would be sufficient when needed. If you can provide more details, then you may find that more information is forthcoming.

AnotherJoe

Paul2212 wrote: »

The funds are being held with Fidelity and the trustees are Sovereign Group, based in the North West. I obviously know most of the holdings and can prepare my own valuations based on current prices but some of the holdings change on a regular basis through income contributions. I am unable to obtain access to the platform directly as I cannot be a joint trustee under the terms of the SIPP. I obtain annual valuations but like to assess the performance of investments on a monthly basis to see if adjustments are required. Any request for information takes weeks if not months to resolve. I would welcome comments as to whether others have the same issues, or how I should go about resolving the issue. I have considered changing the trustees but understand this to be a costly exercise and worthless if the problem isn't resolved. I mentioned the problem to a friend who flippantly replied that all trustees are the same.

If they are required that often you've chosen the wrong investments !

In any case you know what the investments are so you know what they are doing relative to each other, surely income cannot make more than a trivial change to the overall balance?
I haven't seen anyone here report balancing more than half yearly, maybe quarterly at most, annually is more the norm, trade more frequent than quarterly and you are trading on noise.


Given the issue seems to be you have a property and need this setup, but you want to monitor your investments on a very frequent basis, why not just transfer everything else other than the property out into a SIPP you manage yourself?