Pension Pot

GuidoT

I think I have about 10 years in me before I retire.

I have circa £500K with St James Partnership in various funds (that have performed okay, but eroded into by fees) and I know I should move it because the fees are very high. My exit fee is down to £5K now.

I am wondering where to put it.

I think I would be comfortable with a SIPP using on a trading platform.

I do not have the knowledge to pick individual stocks, but I would be okay with managed funds / trackers.

Who do people think - thank you in advance?

El_Torro

What percentage fees are you paying now? Including platform, fund fees and your FA’s fee? It’s going to cost you 1% to exit so you just need to calculate how long it will take you to make the money back.

That’s not the full story though. How confident are you in managing half a million pounds yourself? Is it all in a SIPP now or elsewhere? If it’s all already in a pension that’s one less thing to worry about.

You could shove the whole lot in a multi asset global tracker, though are you confident that you will be picking the right risk level? If markets fall will you panic and sell, thereby losing money? You’re asking for advice on which fund(s) to pick so that suggests you might need to do some reading up before ditching your FA.

If you’re confident to DIY then that’s great. Otherwise speaking to an IFA might be better.

xylophone

If you are happy with your existing funds, would they be available in the SIPP of your choice?