Vanguard sipp

Oliver1191

Is it just me or is this taking a very long time?

Anyone got any idea of when it will be out?

Also, does anyone think they'll make a lisa?

Zorillo

They had no plans for a LISA when I asked them last year.

ewaste

I agree it's taking a long time in the sense that they've been in the UK for a while now and have yet to offer a SIPP directly to the consumer, then again it's only a few months beyond the last ballpark guesstimate they suggested of April. I perfectly understand though given that it would be a direct to consumer SIPP and the general understanding and complexity of pensions are a whole other ball game compared to S&S ISA's etc.

I'll happily wait and see what they offer, may well end up transferring my SIPP if it's cheaper during the accumulation phase e.g. low percentage fee and no fund buying charges.

As for a LISA I don't see them ever offering it, in fact I don't think the LISA thing will be around for very long given a change of Government. It was basically another attempt to prop up the property market and sprinkle some salt into the chasm that is the generational wealth gap, funny considering quite a bit of LISA money has probably been passed on from parents or grandparents.

Albermarle

As I understood , a Vanguard Sipp would only offer vanguard funds , so would not be a SIPP anyway in reality. More similar to a traditional personal pension.
Also most of the cheaper platforms , charge more for SIPPs than ISA's and more again for drawdown ( only HL & Fidelity have an all in charge ) So I would presume Vanguard would charge extra for a 'SIPP' as their very low current charges would not cover all the extra admin.

dunstonh

Is it just me or is this taking a very long time?

Not really when you consider that they rejected a SIPP from their software supplier and instead asked them to build a master trust style contract from scratch. FNZ have a perfectly good SIPP coded into their software but Vanguard didn't want it. Probably because they don't want to offer SIPP functionality.

FNZ also had to complete the Aviva migration, Asscentric migration and they are working on the Old Mutual Wealth migration. So, somewhere in there, they have to find time to code the new product for Vanguard.

Also, does anyone think they'll make a lisa?

FNZ does not offer the LISA wrapper on its software.

ScoobyZ

I can't find any recent updates. Do you think it will be in place before the end of the 19/20 tax year?

jaybeetoo

I wouldn’t base your SIPP decision on whether Vanguard will be providing one. If you want a SIPP, just start one.

Prism

I'm not sure why people are waiting for a platform that they haven't seen, with fee's that have not been announced, which in all likelihood will be very limited in choice.

cfw1994

Prism wrote: »

I'm not sure why people are waiting for a platform that they haven't seen, with fee's that have not been announced, which in all likelihood will be very limited in choice.

I guess it is on the basis that Vanguard have been in the forefront of offering low cost investments that appear to be simple and decent enough for most people!
Hopefully it isn’t stopping people from investing in their future in the meantime!

Thrugelmir

cfw1994 wrote: »

I guess it is on the basis that Vanguard have been in the forefront of offering low cost investments that appear to be simple and decent enough for most people!
Hopefully it isn’t stopping people from investing in their future in the meantime!

Low cost investing that is straightforward and without frills. Vanguard will wish to ascertain that there'll be sufficient uptake to make the venture worthwhile. The further an organisation strays from what it is good at. The greater the challenge to differentiate itself in the wider marketplace.

swindiff

Looks like it might be getting close

We're launching a Pension (SIPP)
Thinking about saving for your retirement? It's taken us a little longer than we'd hoped but we are now in the final stages of building the new Vanguard Personal Pension. Sign up to be the first to hear when we add this new account in 2019"

Why invest with us?
When we started in the US over 40 years ago, we took a stand against the industry’s high charges and structured ourselves there in a way that meant we could continually offer our funds at low cost.

We believe that investing doesn’t have to be complicated. We’ve designed straightforward products and described them in plain language so you can understand their risks and benefits. Better, fairer investing for everyone.

Low annual account fee
Only 0.15%, capped at £375 per year
Invest from £100 per month
Or add a lump sum from £500
Investment options
Choose an all-in-one fund or build your own portfolio
No extra charges
No charge to switch holdings, deal, make payments or exit
Advanced encryption
We use advanced encryption to secure your account
Simple account access
Manage your account from desktop, tablet or mobile, 24/7

https://www.vanguardinvestor.co.uk/investing-explained/investment-account-types


I wonder if this account fee of 0.15% with a £375 cap includes the upcoming SIPP, if so it would definitely be worth moving from HL