SIPP provider with lowest fees

Albermarle

UncleK said:

I moved away from H&L as we were being charged a percentage for having stuff just sitting there. If you are active that doesn't apply, of course.

Almost all  pension providers etc will charge you, regardless of your activity. 

mugston

Comparing the main ones now.

From my understanding, DODL and Vanguard Investor don't charge a fee to buy or sell funds or ETFs, while AJ Bell charge £1.50 per transaction for funds.

HL charge a platform fee of 0.45% which rules them out.

Assuming a SIPP of 3,600 after the govt bonus, and 2 trades per year (my £2,800 followed by the govt bonus when it is applied), the fees for the cheapest all world ETF/fund come to:

DODL:

Cheapest fund - HSBC all world - 0.13% - £4.68

Platform fee - 0.15% - £5.4 which is less than the minumum £12 yearly fee

Trading fees - 0

Total fees - £16.48

AJ Bell:

Cheapest fund - HSBC all world - 0.13% - £4.68

Platform fee - 0.25% - £9

Trading fees - £3

Total fees - £16.48

Vanguard Investor:

Cheapest fund - VWRP - 0.22% - £7.92

Platform fee - 0.15% - £5.4

Trading fees - 0

Total fees - £13.32

So we should invest in VWRP in year one, then in year 2 sell it, transfer the proceeds to DODL, and together with year 2 contributions invest the lot in HSBC all world.

Have I missed or made a mistake with any fees here?

Is there any other disadvantage to this, other than the hassle of the transfer to only save £3.16?

Thanks.

ColdIron

That 'other than' in 'other than the hassle of the transfer' is doing quite a lot of heavy lifting, it can be a slow process sometimes requiring intervention

In your shoes I'd go with DODL and cut out a coffee for the first year

alanyau88

Just choose a platform that you are comfortable with and has access to all the investments you may want now and in the future.  In vanguard, instead of choosing vwrp you could consider choosing vhvg and vfeg for a lesser fee?