How to set up a new AJ Bell SIPP account

[Deleted User]

fronty wrote: »

I'm going through a similar process, but I decided to go with II after looking at http://www.comparefundplatforms.com. The SIPP took just a few minutes to open, I have no idea how long the transfer will take, I just submitted the transfer form on Friday evening. Happy to share my experience if anyone is interested, maybe I'll start a new "SIPP transfer" thread. I'm guessing it'll take a few weeks to sell all my existing investments (my pension is invested in something like 18 funds at the moment, it's ridiculous) and move the cash across.

For my scenario comparefundplatforms estimates 8bp platform costs for AJ Bell and 16 bp for II. Transfer out charges are a bit lower with II; not sure about the drawdown.

cloud_dog

I'm sure it is only me but, I've spent my life running away from II. I know other posters experiences on here have been fine but....good luck.

Albermarle

I'm sure it is only me but, I've spent my life running away from II. I know other posters experiences on here have been fine but....good luck.

On TrustPilot they score the highest amongst the well known platforms - 4.5 stars.
Compared to Aj Bell 3 starts; Fidelity 4 stars; Iweb 3.5 stars; HL 3 stars.

However the II reviews are all very similar' I spoke to Luke he was very helpful ' ; ' Hayley was a star and explained everything '; Daniellew as very patient and helpful' etc
Also they have ten times as many reviews as any of the others .

[Deleted User]

Albermarle wrote: »

On TrustPilot they score the highest amongst the well known platforms - 4.5 stars.
Compared to Aj Bell 3 starts; Fidelity 4 stars; Iweb 3.5 stars; HL 3 stars.

However the II reviews are all very similar' I spoke to Luke he was very helpful ' ; ' Hayley was a star and explained everything '; Daniellew as very patient and helpful' etc
Also they have ten times as many reviews as any of the others .

Not sure TrustPilot scores are all that meaningful. A lot of people are complaining about having too much security on AJ Bell. I like security and don’t need to log in all that often anyway. Others are upset with % charges for high net worth accounts using funds. Ok, but that’s their cost model. Works fir some but not others, depending what investment vehicles you use.

Would have been good to have an independent evaluation of all the platforms against a single set of criteria for various uses, conducted annually. Then one can judge what criteria are important. Does anything like that exist for UK brokerages?

Albermarle

You could have a look at this
https://moneytothemasses.com/category/saving-for-your-future/investing/page/2

[Deleted User]

Albermarle wrote: »

You could have a look at this
https://moneytothemasses.com/category/saving-for-your-future/investing/page/2

Yes, something like this but would have been helpful to include non-cost criteria, e g responsiveness

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

green_man

Deleted_User wrote: »

No inactivity fees? That’s good. If I were to have cash in the account, they ought to be paying me for lending them lots of pounds to use as they see fit.

Halifax SIPP pays BOE base rate on cash balances (curentlly 0.75%)