SIPP Savings Accounts

Hello I'm struggling to find a decent SIPP Savings Account.  I'm more than happy to commit to keeping money in there for a long period of time and it's about £250k that needs a home.  

If you feel there's somewhere else i should put it, feel free to add your opinions.  I'm scared of investing in stocks and shares as I am deeply suspicious of other people's abilities to run businesses.  I watched my mother lose money to a company that went bust and I took it worse than she did!  I may be one of those accept less return because i'm so cautious types of people.

Many thanks for any help and please excuse if this has been discussed recently but i couldn't find it.  Have been searching the internet for an answer to this and not found much.

Comments

  • dunstonh
    dunstonh Posts: 115,720
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      I'm scared of investing in stocks and shares as I am deeply suspicious of other people's abilities to run businesses
    Most people in the UK do not invest in stocks and shares as they don't have the knowledge and understanding to do so.   That is why they stick to funds.

      I watched my mother lose money to a company that went bust and I took it worse than she did! 
    That is a risk with single company shares and another reason why funds are preferrable.

     I may be one of those accept less return because i'm so cautious types of people.
    Depending on your timescale, you are possibly creating more risk by excluding asset classes and sticking to cash.   You are replacing investment risk with shortfall risk and inflation risk.

    Many thanks for any help and please excuse if this has been discussed recently but i couldn't find it.  Have been searching the internet for an answer to this and not found much.
    Its been covered in many threads but mostly in the pension section of the board.

    The use of deposits requires a full SIPP, which is often more expensive.  However, the use of Short Term Money Market funds gives a viable alternative.



    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • We have full SIPPs - perhaps that would explain why i couldn't find it as it suggested this board rather than the pension one.  We own property in them.
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