Any experience of AJ Bell YouInvest ?

jonesy103

Trawling for information about drawdown I’ve come across the name AJ Bell. It’s a very good website and seems on the surface at least to be the sort of thing I think I need.

Does anybody have any experience good or bad of them ?

squirrelpie

I opened an account with them in 2017, but immediately closed it once I realized that their provisions for paying-in money didn't offer me any suitable possibilities. Hopefully your requirements are different and/or the situation has improved since.

jonesy103

Ok thanks for your feedback, my plan is to move two existing plans to a single drawdown but continue to make contributions for another four years before I retire. Does that mean that in your opinion they aren’t suitable?

Linton

I have more than £100K with an AJ Bell ISA and SIPP. The ISA was set up from transfers-in and the SIPP is now in drawdown. There have been no problems at all.

jonesy103

Do you manage your own funds or have you chosen to let them handle that ? Are you happy with their fees ?

Linton

jonesy103 wrote: »

Do you manage your own funds or have you chosen to let them handle that ? Are you happy with their fees ?

I manage my own funds. If I wanted someone to manage my portfolio I would go for an IFA rather than the platform. AJBell's fees are relatively low for a platform that charges as a % though you do have to pay for things that you may get free from HL such as drawdown.

jonesy103

Thanks Linton

Do you have a background in financial sectors and how did you decide that SIPP was right for you ?

Prism

I use AJ Bell as I found it to offer a good balance of low fees, easy transfers in from other providers, good fund/shares selection and a nice website and app.

I use it for ISA and SIPP accounts have done several transfers in all very easy to do. I pay into my SIPP from my company account and into the ISA from my bank. All seemless

squirrelpie

jonesy103 wrote: »

Ok thanks for your feedback, my plan is to move two existing plans to a single drawdown but continue to make contributions for another four years before I retire. Does that mean that in your opinion they aren’t suitable?

I don't have any knowledge or experience of transfers or contributions with them, so I have no opinion on whether they're suitable, I'm afraid.

xylophone

https://moneytothemasses.com/saving-for-your-future/pensions/the-best-cheapest-sipps-low-cost-diy-pensions

might be worth a browse.

EdSwippet

jonesy103 wrote: »

Does anybody have any experience good or bad of them ?

Youinvest were Sippdeal before a name change in 2013. I was a customer of AJ Bell Sippdeal until this debacle in 2013:

https://forums.moneysavingexpert.com/discussion/48333965#84

This prompted me to move away, even though I was forced to pay hefty transfer-out charges to avoid even heftier fee increases. I remain a happy non-customer. Also, a fair bit better off for having moved.