Which Non-AJ Bell SIPP Platform

Albermarle

It's subjective but Fidelity have been investing in user experience and are just as good if not better than HL now

Yes it has improved and I use it with no issues . Probably I am brainwashed from other posters complaining about how clunky the website was in the past .

SouthCoastBoy

Thanks Alexland and Albermarle, do you know if there is Fidelity charge for Investing in OEICs? As generally I invest in OEICS rather than ETFs.

Alexland

Fidleity charge 0.35% (reduced to 0.20% for Wealth customers who have above £250k) ongoing for OEICs capped at £2k pa so uneconomical for a large account. If you want to invest lots of money in OEICs then a fixed price platform such as iWeb/HSD or II would be better.

Albermarle

Alexland said:

Fidleity charge 0.35% (reduced to 0.20% for Wealth customers who have above £250k) ongoing for OEICs capped at £2k pa so uneconomical for a large account. If you want to invest lots of money in OEICs then a fixed price platform such as iWeb/HSD or II would be better.

I have >£300K ( just) with them and it  is invested  about 50% OEICS and 50% IT's , so effectively pay 0.1% + a few £10 trades a year .
If you take into account no extra charges for anything and two X £500 cashback for transfers then all good.
Platform choice is a bit horses for courses . What's right for one person is not necessarily right for another .

Alexland

Albermarle said:

I have >£300K ( just) with them and it  is invested  about 50% OEICS and 50% IT's , so effectively pay 0.1% + a few £10 trades a year .

So you are paying Fidelity (£150k x 0.2% for the OEICs) + (£150k x 0.2% for the ITs but capped at £45) + (2 x £10 trades) = £365 pa which is a lot more than iWeb/HSD or II although when you get to decumulation II would be the clear winner as iWeb/HSD still charge for drawdown. Are you not tempted to move to II next time they run a generous cashback offer?

Albermarle

Alexland said:

Albermarle said:

I have >£300K ( just) with them and it  is invested  about 50% OEICS and 50% IT's , so effectively pay 0.1% + a few £10 trades a year .

So you are paying Fidelity (£150k x 0.2% for the OEICs) + (£150k x 0.2% for the ITs but capped at £45) + (2 x £10 trades) = £365 pa which is a lot more than iWeb/HSD or II although when you get to decumulation II would be the clear winner as iWeb/HSD still charge for drawdown. Are you not tempted to move to II next time they run a generous cashback offer?

Yes would be around £365 . I only just moved the second pension ( not got the cashback  yet) so would need to stick around for a while before thinking about moving . . The picture is a bit more complicated as I still have two more ex employer pensions and one of them has pretty keen pricing . Costs just 0.27% in total to hold a multi asset fund or a FTSE world equity fund or a bond fund + no drawdown costs + fully insured funds .  So I might end up with more simple cheap OEICS in that one and more IT's/ETF's with Fidelity with a couple of OEIC funds not available with the other one.  Will need to give it some more thought at the time .

Alexland

Albermarle said:
So I might end up with more simple cheap OEICS in that one and more IT's/ETF's with Fidelity with a couple of OEIC funds not available with the other one. 

That's kinda what we do use Fidelity for parking a large lump sum of equities via a World ETF in each SIPP and then use our percentage based workplace pensions for everything else.

janeskips2

Is there a cheaper alternative for foreign shares? None of the platforms with low currency commission geared toward international trading provide SIPP or for that matter ISA. iweb and ii have cheaper fees for UK shares and funds but they charge 1.5% for each currency conversion where AJ Bell is only 1%.