Which sipp platform?

SouthCoastBoy

Scrudgy said:

SouthCoastBoy said:

Scrudgy said:

I have just initiated a transfer from my employer scheme managed by WTW to ii. 

I am using a pension transfer service to manage the work for me as I had already engaged them for retirement planning and investing advice, and the transfer work was included in the one off fee. I was told to expect minimum 6 weeks, but probably 8-10 for the transfer to be completed. I don’t think he thought WTW were particularly speedy at responding to transfer out requests.

Thats interesting, disappointing but not surprising. 10 weeks out of the market is a long time

So I now have the transfer complete and my money hit the SIPP today.

The whole process took 12 weeks, but this was mostly a lot of behind the scenes faffing about by WTW it seems. However the actual time I was "out of the market" was 7 trading days lost in total. This was from the time the fund was sold, the time it took to settle the money and the BACS transfer. Not too bad I thought.

Thks for the update, gives me some perspective of what I can expect when I need to transfer out

kinger101

gm0 said:

My experiences with Fidelity as a place to transfer into and trade and hold ETFs have been positive.  Low cost cap (for ETF). 
No problems.  People I talked to at time of account setup and transfer were helpful. 

Nothing that oppressive by way of sales activity.

It has the biggest range of the things I use.  Adequate to my needs.

I can second this.  I recently transferred my SIPP from HL to Fidelity.  It was all in VWRL.  Based on experiences of others, I thought it might take three months.  Took just over two weeks for an in specie transfer in the end.

£90 a year cap across SIPP, ISA and S&S accounts (for ETFs).  

Pat38493

kinger101 said:

gm0 said:

My experiences with Fidelity as a place to transfer into and trade and hold ETFs have been positive.  Low cost cap (for ETF). 
No problems.  People I talked to at time of account setup and transfer were helpful. 

Nothing that oppressive by way of sales activity.

It has the biggest range of the things I use.  Adequate to my needs.

I can second this.  I recently transferred my SIPP from HL to Fidelity.  It was all in VWRL.  Based on experiences of others, I thought it might take three months.  Took just over two weeks for an in specie transfer in the end.

£90 a year cap across SIPP, ISA and S&S accounts (for ETFs).  

I guess that's because you are only holding an ETF with Fidelity?

Also I guess you still have to pay the 0.22% fund fee within the fund?

kinger101

Pat38493 said:

kinger101 said:

gm0 said:

My experiences with Fidelity as a place to transfer into and trade and hold ETFs have been positive.  Low cost cap (for ETF). 
No problems.  People I talked to at time of account setup and transfer were helpful. 

Nothing that oppressive by way of sales activity.

It has the biggest range of the things I use.  Adequate to my needs.

I can second this.  I recently transferred my SIPP from HL to Fidelity.  It was all in VWRL.  Based on experiences of others, I thought it might take three months.  Took just over two weeks for an in specie transfer in the end.

£90 a year cap across SIPP, ISA and S&S accounts (for ETFs).  

I guess that's because you are only holding an ETF with Fidelity?

Also I guess you still have to pay the 0.22% fund fee within the fund?

The fees charged by VWRL are still the same, but the platform charge is much lower.  I don't hold OEICs.  My son does in his Junior ISA, but Fidelity don't charge platform fees on these within the JISA.

Albermarle

kinger101 said:

Pat38493 said:

kinger101 said:

gm0 said:

My experiences with Fidelity as a place to transfer into and trade and hold ETFs have been positive.  Low cost cap (for ETF). 
No problems.  People I talked to at time of account setup and transfer were helpful. 

Nothing that oppressive by way of sales activity.

It has the biggest range of the things I use.  Adequate to my needs.

I can second this.  I recently transferred my SIPP from HL to Fidelity.  It was all in VWRL.  Based on experiences of others, I thought it might take three months.  Took just over two weeks for an in specie transfer in the end.

£90 a year cap across SIPP, ISA and S&S accounts (for ETFs).  

I guess that's because you are only holding an ETF with Fidelity?

Also I guess you still have to pay the 0.22% fund fee within the fund?

The fees charged by VWRL are still the same, but the platform charge is much lower.  I don't hold OEICs.  My son does in his Junior ISA, but Fidelity don't charge platform fees on these within the JISA.

Just as a point that is not often mentioned, it is possible of course to hold both OEICS and ETF's/IT's  in a Fidelity  account and you end up with a kind of hybrid charge.
If you have over £250K with Fidelity the platform charge drops to 0.2% for all of it. 
So if you half OEIC's and half ETF's/IT's, you pay marginally above 0.1%.

You can do the same with HL but it works out more as although their platform fee also drops at £250K, the reduced fee is only for amounts above £250K and for a SIPP the ETF/IT cap is £200.