Interactive Investor SIPP

peterg1965

Does anyone have an ii SIPP, and can they vouch for it being a decent platform?  What is the online platform like - as I cant see it without joining?

I will be transferring circa £190k into the SIPP - as a drawdown pot - and will be continuing to pay £1000/month into the SIPP as regular monthly  savings into approx 4 funds.  I understand the costs will be £9.99/month for the ii.co.uk service plan, £10/month for the SIPP (free until April 21) and a further £10 as the main SIPP funds will be in drawdown (although 'nil' amount being taken out), so £19.99 initially and then £29.99 month after April 21.

I have read on the website that regular investing via direct debit into funds is free - although the advsior on the phone told me it was £7.99 for each trade, so a further £32/month, if this was the case, then ii will be out of the running as that would be £62/month - not far off HL monthly fee.

Is this the only platform to consider, or are there others out there like AJBell, which are worthy of consideration.

shinytop

I have an II SIPP and it's OK.  I also have one with HL. II Customer service isn't quite as good as HL but it's fine.  If you think of HL as Waitrose, II is Asda.  The II interface is also good and getting better; they seem to be on a programme of improvements and additions to functionality.  You do get a number of 'free' trades included in the fixed price.  I don't know about regular investments as I don't do that.  Neither II nor HL are particularly good with doing SIPP specific stuff online but as I said II is getting better. 

Albermarle

For a SIPP in drawdown you could also look at Fidelity - same as HL in that there is  just the platform charge and no other charges for drawdown etc Cheaper than HL but website not as shiny/slick .
Aj Bells platform charge is lower still but there are a few extra charges .

MallyGirl

I have an ii SIPP - it certainly costs nothing for regular investing trades into the associated ISA. I am pretty sure it would be the same for the SIPP (I don't contribute to mine)
The 9.99 fee gives you a trading credit of 7.99 so you could always invest the £1000 into fund 1 one month, fund 2 in the second month, etc so all trading covered by the credits if you do it that way.
I can't compare to other platforms really but it is a lot easier to use than my old Halifax Share Dealing one for my ISA.