SIPP

Albermarle

dunstonh said:

Rich1976 said:

JakeHyde said:

I'm doing a last minute Larry, and looking to go with InvestEngine on the 5th!?!? 😅 Why is everyone going with HL, are they the most popular for some reason?

HL are the biggest with just under 2 million customers and a 42% market share. They are very good and user friendly in my experience . Charges can be an issue but then so can providers with lousy customer service.

Just adding the caveat that they are the biggest DIY provider.  They are not the biggest overall if you include the platforms that IFAs use.  I believe Fidelity and Aegon are bigger.   This also goes to show that being big doesn't mean best as anyone who has used Aegon will know.

Just out of interest if you look at all providers, including personal, workplace, SIPP's, stakeholders, DIY & Intermediary etc. do you know who is the biggest?
Royal London? Aviva ? Phoenix ?

poseidon1

zagfles said:

Albermarle said:

JakeHyde said:

I'm doing a last minute Larry, and looking to go with InvestEngine on the 5th!?!? 😅 Why is everyone going with HL, are they the most popular for some reason?

HL are established and large, with a good reputation for customer service, which matters more when withdrawing than adding.
Their charges are higher but for these types of amounts it is not a big issue.

Investengine are new(ish) so not fully tested, but should be OK and cheap for you. 

HL's charges are zero if you hold cash, and you get about 3.5% interest, so for those who just want to play the £2880 recycling game they're probably one of the better options

I have just fired off a message of enquiry to HL since I hold  fairly high Sipp cash balances with them over the past couple of years, but to date have received zero interest. This is in contrast to my interactive investment sipp which has had interest credits for many months now.

ColdIron

I receive mine on the 9th of the month like clockwork from cash in the Capital account and not the Income or Loyalty ones which I don't believe pay interest

dunstonh

Just out of interest if you look at all providers, including personal, workplace, SIPP's, stakeholders, DIY & Intermediary etc. do you know who is the biggest?

Its difficult as generally you find the reports into the DIY side leaves off the intermediary side and vice versa.   However, I believe of the ones that offer services to DIY, only HL, Fidelity (combined) and AJ Bell (combined) make it into a combined top list.   

Royal London used to be the biggest provider of income drawdown but I haven't seen that breakdown for some years.   Aviva has one of the biggest growths - which is strange as I find their platform to be a bit chalk and cheese.  Some bits they do very well but some functionality is missing which makes them a complete pain in the ar**.  

Phoenix tends not to appear in lists as it was a closed book provider.   But now that they have Standard life brand from Abrdn and are offering some new business, they may start to appear.

GeoffTF

Rich1976 said:

HL are the biggest with just under 2 million customers and a 42% market share.

That is an empty claim. It depends on what you count in and what you count out. Halifax Share Dealing Limited publishes accounts, but does not say how many customers it has or what the the AUM is. Do you count all the HSDL brands as one, or each brand separately? Do you count the very big platform that hosts the investments of other platforms? Do you count advisor business or just DIY?

Rich1976

GeoffTF said:

Rich1976 said:

HL are the biggest with just under 2 million customers and a 42% market share.

That is an empty claim. It depends on what you count in and what you count out. Halifax Share Dealing Limited publishes accounts, but does not say how many customers it has or what the the AUM is. Do you count all the HSDL brands as one, or each brand separately? Do you count the very big platform that hosts the investments of other platforms? Do you count advisor business or just DIY?

I was quoting from their website on the D2C market. 
 

badger09

ColdIron said:

I receive mine on the 9th of the month like clockwork from cash in the Capital account and not the Income or Loyalty ones which I don't believe pay interest

Me too. Small SIPP & usually low cash balance but I leave divs from 2 holdings to cover monthly £16.66 fees. Interest is credited 9th of every month.