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Thinking of moving SIPP to ETF funds to save platform charges.

The Fidelity £45 max platform fee for ETFs/ITs is just too tempting compared to the 0.25% of other providers, however there isn't a great choice of ETFs.

What are your thoughts?

Comments

  • The Fidelity £45 max platform fee for ETFs/ITs is just too tempting compared to the 0.25% of other providers, however there isn't a great choice of ETFs.


    The general principle is...

    Decide what you want to own, then find the cheapest way of owning it.


    "Decide what you want to own" requires you to be pragmatic, so that you consider comparables or reasonable alternatives to your ideal choices, if that flexibility enables you to achieve material cost savings.

    But don't stray so far from your "ideal" choices such that you end up compromising what you were trying to achieve with those original portfolio choices.


    If you apply that thinking, you shouldn't go too far wrong.
  • Albermarle
    Albermarle Posts: 28,285 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    The Fidelity £45 max platform fee for ETFs/ITs is just too tempting compared to the 0.25% of other providers,
    Yes it is a very low fee also considering the SIPP has no other charges for drawdown etc .Tey will also pay any exit fees you incur and from time to time offer transfer cashback deals .
    Al Bell and HL also offer capped fees for ETF's /IT's of £100 & £200 respectively in case you prefer their range of choices.
    However as mentioned above you should not let saving platform fees be your primary driver for investment choices ( although I suspect many of us are a little bit guilty of this )
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