X-O Jarvis SIPP

[Deleted User]

Does anyone have experience with X-O SIPP provided by Jarvis?

Plan to invest in ETFs.

Initial interactions seem positive but I can’t find any reviews on line.

LHW99

My OH had one. You can only use shares ITs & ETF's, we found their phone help very good. Only issue we had was that when theydid a site update, we had to ensure the browser cache was deleted, otherwise you were taken to the old site, and the login would be rejected. Happened a couple of times over the years.
The site functionality was generally OK though, but if you did have to make a purchase / sale by phone for some reason it was more expensive.

Thrugelmir

Have used the X-O SIPP for the past 6 years. The SIPP administration was moved to Gaudi Regulated Services a couple of years ago.

X-O are the consumer arm of stockbrokers Jarvis Investment Management. Good online and telephone support. Competitive trading fees. Website is basic but functional.

Likewise Gaudi offer good administration support. Website is good.

Fixed annual fee for the SIPP is competitive. (As a long standing customer I benefit from an offer of Jarvis rebating my fee for life).

[Deleted User]

Thanks! (The message was too short)

clivep

Thrugelmir wrote: »

As a long standing customer I benefit from an offer of Jarvis rebating my fee for life.

Just keep a check that it does get refunded.

Mine has been but no contributions are being made to this SIPP.

My wife's £2,880 contribution in April had the annual SIPP fees deducted by Gaudi before getting passed on to X-O even though these fees weren't due at that time. Presumably, as X-O didn't then see a deduction for fees from the X-O a/c by Gaudi then they didn't refund them. It took several months and numerous emails before the refund was forthcoming.

Shedman

If you're planning on investing just in ETFs /shares/ ITs (rather than funds) have you looked at Fidelity as they only charge a flat £45 a year service fee for 'exchange traded instruments' plus £10 per trade (and also they don't charge for drawdown).

I was with XO SIPP (the XO Liberty version) as I already had XO ISA and their SIPP was originally touted as a low cost SIPP but they then started to increase the fees quite steeply each year. So I moved SIPP to Fidelity to save money as I was being charged around £250 a year (£144 annual Admin Fee plus over £100 a year as well as I had entered drawdown..even though I didnt drawdown each year it was an ongoing charge) and hence am £200+ p.a. better off.

Also had problems buying ETFs (even the ones I already held!) through XO as they wanted you confirm that you'd read the KIDD but didn't provide the required docs online or the ability to tick to agree you'd read them so you had to ring them rather than deal online which I found very frustrating. Maybe they've resolved this aspect by now though.

Still have the ISA with them though as theres no annual fee on that and dealing costs are low. No issues with that one as only hold shares in it.

Thrugelmir

Shedman wrote: »

Also had problems buying ETFs (even the ones I already held!) through XO as they wanted you confirm that you'd read the KIDD but didn't provide the required docs online or the ability to tick to agree you'd read them so you had to ring them rather than deal online which I found very frustrating. Maybe they've resolved this aspect by now though.

KIDD is now handled online.

[Deleted User]

Shedman wrote: »

If you're planning on investing just in ETFs /shares/ ITs (rather than funds) have you looked at Fidelity as they only charge a flat £45 a year service fee for 'exchange traded instruments' plus £10 per trade (and also they don't charge for drawdown).

I was with XO SIPP (the XO Liberty version) as I already had XO ISA and their SIPP was originally touted as a low cost SIPP but they then started to increase the fees quite steeply each year. So I moved SIPP to Fidelity to save money as I was being charged around £250 a year (£144 annual Admin Fee plus over £100 a year as well as I had entered drawdown..even though I didnt drawdown each year it was an ongoing charge) and hence am £200+ p.a. better off.

1. Fidelity didn’t come up as an option for me on the “Compare Platforms” website. http://www.comparefundplatforms.com/compareresults.aspx

2. Fidelity SIPP website threatens 0.35% fees on portfolios up to 250k https://www.fidelity.co.uk/sipp-faq/#432148

That’s 420 quid on 120k. According to their website 45 pounds is if you have under 75 hundred with them.

Am I looking in the wrong place?

3. X-O SIPP charges annual fee of 114, starting from year 2. They charge 6 quid per trade.

Is that not correct?

smokey01

Deleted_User wrote: »

2. Fidelity SIPP website threatens 0.35% fees on portfolios up to 250k

That’s 420 quid on 120k. According to their website 45 pounds is if you have under 75 hundred with them.

Am I looking in the wrong place?

Yes that is for unit trusts, if you're investing in ETFs /shares/ ITs they only charge a flat £45 a year service fee for 'exchange traded instruments' plus £10 per trade (and also they don't charge for drawdown).

[Deleted User]

smokey01 wrote: »

Yes that is for unit trusts, if you're investing in ETFs /shares/ ITs they only charge a flat £45 a year service fee for 'exchange traded instruments' plus £10 per trade (and also they don't charge for drawdown).

Thanks, found it... https://www.fidelity.co.uk/shares/etfs/. Doesn’t talk about SIPP here, but based on your experience the cap must apply.

Would have been a good option but I am probably too far down the road with X-O now as I submitted the application and asked for the funds to be transferred in. Will review in a year or so.

Albermarle

Fidelity SIPP charges ( scroll down to see the £45 cap mentioned)
https://www.fidelity.co.uk/services/sipp/fees-and-charges/#tab-link
+ you may want to see this cashback offer.
https://www.fidelity.co.uk/pension-transfer/?p=0&c=10#cashback-offer