Interactive Investor are they any good, beginning to have doubts

Alexland

ex-pat_scot said:

My circumstances are simple - £350k ish of VWRL ETF.
Costs are £20 per month.

I do similar with more in VEVE ETF but on Fidelity it's only £3.75 per month plus £1.50 for quarterly divi reinvestment.

They would offer you £500 transfer cashback to pay their fees for the next decade or longer with tax relief.

https://www.fidelity.co.uk/pension-transfer/?intcmp=hero1_sipp_cashback-offer_nov_2021#cashback-offer

granta

To the OP, I have had similar issues with ii customer service. Very hit and miss with how accurate the info is and I've learnt I need to double check facts and sometimes call back as you get a different response each time.

ii works ok if you don't have to transact or call them, but I have experienced issues when taking actions based on what their customer service agents have told me. And quite dismissive approach to complaints.

Looking to move to fidelity, thanks to Alex for pointing out the current promotion, just what I was waiting for! Shame it's not for ISAs too...

segovia

I'll be in drawdown-mode next year has there been any discussion / facts shared about who is best for drawdown administration or are they all much the same ?

A £1,000.00 from fidelity seems attractive but I would trade that for confidence in my chosen plafform

Alexland

granta said:

Shame it's not for ISAs too...

There are usually better options than Fidelity for ISAs. It's nice that my assigned Fidelity welath relationship manager respects my decision to hold ISAs and pensions elsewhere in order to spread platform risk and is happy to talk about our overall picture and anticipated retirement cashflows not restricted to or pushing Fidelity products.

michaels

Alexland said:

ex-pat_scot said:

My circumstances are simple - £350k ish of VWRL ETF.
Costs are £20 per month.

I do similar with more in VEVE ETF but on Fidelity it's only £3.75 per month plus £1.50 for quarterly divi reinvestment.

They would offer you £500 transfer cashback to pay their fees for the next decade or longer with tax relief.

https://www.fidelity.co.uk/pension-transfer/?intcmp=hero1_sipp_cashback-offer_nov_2021#cashback-offer

What are the pros/cons of ETF vs holding an investment fund for SIPPs?  Are there differences in protection etc?  I am invested in a world index tracker fund and pay 240 a year in II (and fund fees of about 12 basis points) but could I do the same more cheaply via an ETF elsewhere (and snag a switching bonus)?

Edit: I have been with II for about 18 months and have switched in funds twice in that period which was free and fairly quick form Scottish Widows.  I was surprised that when I then purchased my funds I was charged about 180 quid rather than it coming form my free trades and also that the purchase went through at the second day after instruction price which again cost me a few thousand compared to the day after instruction price (I probably ordered the trades late afternoon)

granta

Alexland said:

granta said:

Shame it's not for ISAs too...

There are usually better options than Fidelity for ISAs. It's nice that my assigned Fidelity welath relationship manager respects my decision to hold ISAs and pensions elsewhere in order to spread platform risk and is happy to talk about our overall picture and anticipated retirement cashflows not restricted to or pushing Fidelity products.

Yes that's a fair point about holding different platforms. It's another reason why I want to separate out my ii ISA and SIPP. first stage now is to move the SIPP out and that will save on the £120/year and then look ISA options.

iweb seems the best ISA option and if i start an in specie transfer in January 2022, then assuming it takes a year, I'll be out of my tie-in period from ii by then (for receiving recent cashback)!
I cannot find any other options as good as iweb as I hold both funds and ETFs

cloud_dog

Alexland said:

granta said:

Shame it's not for ISAs too...

There are usually better options than Fidelity for ISAs. It's nice that my assigned Fidelity welath relationship manager respects my decision to hold ISAs and pensions elsewhere in order to spread platform risk and is happy to talk about our overall picture and anticipated retirement cashflows not restricted to or pushing Fidelity products.

I'm not trying to sell Fidelity (although a little commission for all the highlighting that goes on towards them would be welcome ) but.... Don't Fidelity charges apply to the person, across all accounts held with them?

Albermarle

granta said:

To the OP, I have had similar issues with ii customer service. Very hit and miss with how accurate the info is and I've learnt I need to double check facts and sometimes call back as you get a different response each time.

ii works ok if you don't have to transact or call them, but I have experienced issues when taking actions based on what their customer service agents have told me. And quite dismissive approach to complaints.

Looking to move to fidelity, thanks to Alex for pointing out the current promotion, just what I was waiting for! Shame it's not for ISAs too...

I have good news for you . It includes transfers into any Fidelity account and you can even transfer an ISA and a SIPP, and they combine the two values to work out the cashback ( I have done this ) 

Transfer & consolidate pensions | Make managing pensions easier | Fidelity

Don't Fidelity charges apply to the person, across all accounts held with them?
Correct .

granta

Albermarle said:

granta said:

To the OP, I have had similar issues with ii customer service. Very hit and miss with how accurate the info is and I've learnt I need to double check facts and sometimes call back as you get a different response each time.

ii works ok if you don't have to transact or call them, but I have experienced issues when taking actions based on what their customer service agents have told me. And quite dismissive approach to complaints.

Looking to move to fidelity, thanks to Alex for pointing out the current promotion, just what I was waiting for! Shame it's not for ISAs too...

I have good news for you . It includes transfers into any Fidelity account and you can even transfer an ISA and a SIPP, and they combine the two values to work out the cashback ( I have done this ) 

Transfer & consolidate pensions | Make managing pensions easier | Fidelity

Don't Fidelity charges apply to the person, across all accounts held with them?
Correct .

Thanks Albemarle! This is good news. I had read the headline only so far "Bring your pensions together..." and thought it only applied to SIPP transfers. So now I can begin the ISA transfer too.

ex-pat_scot

Alexland said:

ex-pat_scot said:

My circumstances are simple - £350k ish of VWRL ETF.
Costs are £20 per month.

I do similar with more in VEVE ETF but on Fidelity it's only £3.75 per month plus £1.50 for quarterly divi reinvestment.

They would offer you £500 transfer cashback to pay their fees for the next decade or longer with tax relief.

https://www.fidelity.co.uk/pension-transfer/?intcmp=hero1_sipp_cashback-offer_nov_2021#cashback-offer

That sounds a peachy offer. 
However I note the quoted SIPP fee is 0.2%, which would work out at about £720 pa. 
I can't see how the £3.75 per month fee arises.