Best OnLine SIPP Platform for self managing drawdown specifically

BPL

there are lots of discussions & marketing bull' about the best and cheapest platform for contributing & investing into a SIPP. I can't find much on who is the best for drawdown management & admin. there is enough info about on drawdown price and financial offerings..I'm currently with Fidelity and am able to manage pre-drawdown trransactions online with the odd message or conversation with my Fidelity Wealth Manager. I took a quick look in the Fidelity help and documents and saw huge downloadable paper forms to fill in to just vary drawdown income for example. I would prefer a good online platform with customer service backup  As I'm not in drawdown yet I won't know what the functionality or service quality will be like to be able to make a rational decision.. I'm considering Fidelity, HL, WJB, ii, Vanguard (they obviously say dunno to drawdown as they aren't doing it until next year).etc.so open to other suggestions
So what is everyones opinion based on personal experience and genuine evidence?
Who's the best self administered Online Platform for flexible drawdown? 

Albermarle

It's a good question and I would also be interested in the answers . However from past threads it seems you can not escape some manual form filling , whoever the provider is .

green_man

Yep, I’m pretty much where you are OP, and it seems that this is a big gap at the moment. Many platforms have developed their platforms around managing the accumulation phase, but little effort has yet been expended on producing a proper flexible online drawdown solution.  

shinytop

I've done drawdown with HL and II and it's a fairly involved paper process.  The most complicated part is crystallising; varying income is simpler but still involving paper forms and taking days/weeks.  It's not even close to being like an online bank where you can withdraw instantly.       

Linton

BestInvest is a pain as you have to write them a letter saying what you want and then phone them to check that they have received the letter and are actioning yor request.

AJBell have online entry for drawdown but I have a vague memory that it just prints out a form for you to post.

Albermarle

I'm currently with Fidelity and am able to manage pre-drawdown trransactions online with the odd message or conversation with my Fidelity Wealth Manager.

I have seen comments on other threads that at least Fidelity retirement advisors are helpful in talking you through the process.

As you have enough funds to qualify for a Wealth manager , presume you will get priority service .

Looks like you can not avoid the paperwork with any provider. 

marlot

shinytop said:

I've done drawdown with HL and II and it's a fairly involved paper process.  The most complicated part is crystallising; varying income is simpler but still involving paper forms and taking days/weeks.  It's not even close to being like an online bank where you can withdraw instantly.       

I use HL. I completely agree about crystallising being the most complicated part.
After that, it's like running a mini one-person payroll system.
HL only let people drawdown once a month, but there's no paperwork involved in changing the regular amount - a secure message works well.
I've settled on a small-ish amount on a regular monthly basis, and I then add a one-off withdrawal each month (done online) to supplement it when the bank account starts to drop low.
I do have to think ahead.  I have to sell enough stocks to cover my payment, and let HL know how muh I want to draw by about the 17th of the month, and it hits my bank account on the 28th of the month.

shinytop

marlot said:

shinytop said:

I've done drawdown with HL and II and it's a fairly involved paper process.  The most complicated part is crystallising; varying income is simpler but still involving paper forms and taking days/weeks.  It's not even close to being like an online bank where you can withdraw instantly.       

I use HL. I completely agree about crystallising being the most complicated part.
After that, it's like running a mini one-person payroll system.
HL only let people drawdown once a month, but there's no paperwork involved in changing the regular amount - a secure message works well.
I've settled on a small-ish amount on a regular monthly basis, and I then add a one-off withdrawal each month (done online) to supplement it when the bank account starts to drop low.
I do have to think ahead.  I have to sell enough stocks to cover my payment, and let HL know how muh I want to draw by about the 17th of the month, and it hits my bank account on the 28th of the month.

marlot said:

shinytop said:

I've done drawdown with HL and II and it's a fairly involved paper process.  The most complicated part is crystallising; varying income is simpler but still involving paper forms and taking days/weeks.  It's not even close to being like an online bank where you can withdraw instantly.       

I use HL. I completely agree about crystallising being the most complicated part.
After that, it's like running a mini one-person payroll system.
HL only let people drawdown once a month, but there's no paperwork involved in changing the regular amount - a secure message works well.
I've settled on a small-ish amount on a regular monthly basis, and I then add a one-off withdrawal each month (done online) to supplement it when the bank account starts to drop low.
I do have to think ahead.  I have to sell enough stocks to cover my payment, and let HL know how muh I want to draw by about the 17th of the month, and it hits my bank account on the 28th of the month.

That's good to know about HL.  Thinking about it, I've only ever taken income as lump sums, not regular monthly sums.

TcpnT

marlot said:

shinytop said:

I've done drawdown with HL and II and it's a fairly involved paper process.  The most complicated part is crystallising; varying income is simpler but still involving paper forms and taking days/weeks.  It's not even close to being like an online bank where you can withdraw instantly.       

I use HL. I completely agree about crystallising being the most complicated part.
After that, it's like running a mini one-person payroll system.
HL only let people drawdown once a month, but there's no paperwork involved in changing the regular amount - a secure message works well.
I've settled on a small-ish amount on a regular monthly basis, and I then add a one-off withdrawal each month (done online) to supplement it when the bank account starts to drop low.
I do have to think ahead.  I have to sell enough stocks to cover my payment, and let HL know how muh I want to draw by about the 17th of the month, and it hits my bank account on the 28th of the month.

Just to second this HL info.
One off drawdown payments can be arranged entirely online. Just a few tick boxes and clicks. Has to be done by 17th of any month for payment on 28th. Did one yesterday and it only takes a couple of minutes. Regular income payments have to be altered using a form by post or by a secure message through the system available in your online account on computer or phone.

BPL

shinytop said:

I've done drawdown with HL and II and it's a fairly involved paper process.  The most complicated part is crystallising; varying income is simpler but still involving paper forms and taking days/weeks.  It's not even close to being like an online bank where you can withdraw instantly.       

Any preference between ii & HL? I was considering changing from Fidelity to ii or waiting a year and seeing ehat Vanguard is like..HL I am a bit wary of just from media reports e.g. Woodford, nothing else.
Our Company provided IFA recommends Curtis Bank (I hadn't heard of them either - guess it's a mates rates thing)

Albermarle

Our Company provided IFA recommends Curtis Bank (I hadn't heard of them either - guess it's a mates rates thing)

IFA's tend to work with different SIPP providers than the ones usually used by retail clients ( Joe Public). Often these SIPPS are bespoke/have more features, and work exclusively via financial advisors and not directly with the investor. 

II, HL , Fidelity Personal Investing and others ,are more focused on offering a relatively simple low cost mass market product for the DIY investor , although some have separate arms for dealing with the advised clients .