Vanguard SIPP Announced

SonOf

Deleted_User wrote: »

As an aside, based on this, I looked at their stack and development tools (via the job specifics in their vacancies website). It looks to be all non cloud Microsoft, so app development would be possible but not native

FNZ codes the backend. The platform provider codes the frontend.
However, FNZ does support API and that allows third party software to show valuations and fund data etc. It wouldn't be live as its subject to a once a day snapshot. IFAs use that to display the data in their own portal/mobile apps.

Lungboy

Finally! My current SIPP is with Cavendish and only holds a single Vanguard fund, so this is what I've been waiting for.

swindiff

So my wife has a HL SIPP with £250/month going into it, this all gets invested into Vanguard Lifestrategy 80. current value is £8000. Can someone just confirm my thinking on the charges here.

HL Platform fee of 0.45% + Fund fee of 0.22% Total 0.67%, charges of £53.60/year on £8k
Vanguard Platform fee of 0.15% + Fund fee of 0.22%. Total 0.37%, charges of £29.60/year on £8k
Saving of £24/year which will obviously increase and the pot grows.

Do I have this right?

Albermarle

Do I have this right?

Yes you do, but you could have changed to a cheaper alternative SIPP already . For example an established player - AJ Bell You invest, platform fee is 0.25% and this has been available for a long time.

swindiff

If the pot was much larger we would have probably done so by now, but considering the pot size up until now we are only talking about very small sums of money. We have been waiting for the Vanguard platform as she only had Vanguard funds. I do like the layout of the HL platform its very easy to access via phone or PC and their customer service has been very good. However, if the Vanguard platform is similarly easy to access it will probably be worth switching.

Retired_Minky

shinytop wrote: »

My SIPP with II is £30 a month including drawdown or £20 without. So for me cheaper and I get non- Vanguard choices. Will suit some people though.

Me too. I pay £20 a month. Was hoping to switch but I’ll stick as the fees are lower where I am.

Thrugelmir

Fiendarina wrote: »

No extra fees in drawdown phase.

There's no announcement on the drawdown phase yet. That's to follow. Currently only "accumulation" will be launched. Vanguard will have to recoup the outlay for the investment they are making along with the overheads of running a sizable backroom support service.

[Deleted User]

From the website:

Simply put, there will be no additional charges for going into drawdown in the Vanguard Personal Pension

Vanguard’s model is to sell huge quantities cheap. Backroom support costs are nothing to a company with $5.3 trillion under management.

I don’t understand why British brokers feel they can charge you for taking your own money.

Maffo65

Does anyone know when this new SIPP will be rolled out?
I can't find anything online, other than "in early 2020", which is a bit vague.

chris024

Moving my SIPP & ISA over to Vanguard as soon as the SIPP launches. I was going to move from H&L to another platform when they abolished account closure/transfer fees but held off for the Vanguard SIPP

I have worked out that I will save £13.63 a month in fees!.